Sol Strategies' Nov. 30 holdings at 526,637 SOL

Executive Summary

• Sol Strategies was selected as the staking provider for the VanEck Solana ETF, utilizing its Orangefin validator which holds ISO 27001 and SOC 1/SOC 2 Type 2 certifications, marking a significant validation of its institutional infrastructure capabilities.
• The company executed significant balance sheet management in October and November, including the repayment of $3 million of its credit facility with former chairman Tony Guoga and the restructuring of an additional $4 million through a DeFi loan secured by jitoSOL via Kamino Finance.
• As of November 30, 2025, the company holds approximately 526,637 SOL (valued at ~$103.16 million) and manages 3,144,835 SOL in Assets Under Delegation, maintaining 100% validator uptime and delivering a peak APY of 6.72%.

Key Details

• VanEck Solana ETF Partnership:
  • Sol Strategies selected as staking provider for the VanEck Solana ETF (announced Nov 17).
  • Mandate utilizes Sol Strategies' Orangefin validator.
  • Validator holds institutional-grade security and compliance frameworks, specifically ISO 27001 and SOC 1/SOC 2 Type 2 certifications.
  • Company views this as a validation of operational excellence and strategic positioning in the Solana ecosystem.
• Debt Repayment and Restructuring:
  • October: Repaid $3 million of credit facility with former chairman Tony Guoga.
  • November: Restructured an additional $4 million of the credit facility through a DeFi loan.
  • Collateral for DeFi loan: jitoSOL.
  • Lender: Kamino Finance.
  • Outcome: Reduced borrowing costs while continuing to earn staking rewards on the collateral.
• Treasury and Validator Operations (as of Nov 30, 2025):
  • Total SOL Holdings: 526,637 SOL (approx. $103,157,655.56).
  • Breakdown of Holdings:
    • Direct SOL: 463,888 SOL.
    • jitoSOL: 48,080 jitoSOL (approx. 59,900 SOL).
    • laineSOL: 2,226 laineSOL (approx. 2,850 SOL).
  • Earnings: Approximately 621 SOL earned in October from proprietary validators.
  • Assets Under Delegation (AuD): 3,144,835 SOL.
  • Unique Wallets Served: 22,727.
  • Performance Metrics:
    • Validator Uptime: 100% across all proprietary validators.
    • Peak APY Delivered: 6.72% (Orangefin) vs. 6.34% network average.
• Additional Ecosystem Participation:
  • Participates in Marinade Select (curated program of vetted validators) acting as staking provider for the Canary Marinade Solana ETF.
• Upcoming Events:
  • WeBull digital asset treasury webinar: Dec 17, 2025 (Virtual).
  • ICR Conference 2026: Jan 12–14, 2026 (Orlando, Fla.).

Notable Quotes

• Michael Hubbard, Interim CEO: "November represented a significant validation of our institutional infrastructure capabilities. Our selection as a staking provider for the VanEck Solana ETF demonstrates operational excellence and compliance rigour we've built across our validator network. This mandate reinforces our positioning as a trusted infrastructure partner for institutional participants in the Solana ecosystem."