SOL Strategies (HODL), a Canadian company specializing in infrastructure for the Solana network, disclosed its acquisition of 24,000 SOL tokens during March, at an average price of approximately C$199 ($139.8) each. This purchase, valued around $3.37 million, has raised the company’s total holdings to 267,151 SOL tokens.

Nearly all SOL tokens, around 265,295, have been staked across four validators operated by the firm, as detailed in their latest operational update. Since early March, the company’s stock has decreased by about 25%, mirroring a 27% dip in SOL during that time.

Since the commencement of the Trump administration, the stock of SOL Strategies has plummeted by 67%, while Solana’s value has decreased by 58%.

Under the leadership of Leah Wald, a former co-founder of Valkyrie Investments, SOL Strategies has been aggressively expanding its validator infrastructure on Solana as well as various other Proof-of-Stake networks, including Sui (SUI), Monad (MONAD), and ARCH (ARCH). Validators play a critical role in securing these networks by staking tokens and processing transactions, receiving rewards for these services.

In March, the organization secured three additional validator nodes, which include one from Laine and the analytical platform Stakewiz for a total of around $24.5 million. This acquisition has significantly increased the total amount of SOL staked on their infrastructure, raising from 1.66 million to over 3.35 million tokens.

In addition to SOL, the company holds 3.211 bitcoins but maintains a focus on the Solana ecosystem.