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Sol Strategies Inc. invests in and provides infrastructure for the Solana Blockchain ecosystem. The company operates validator nodes on several Proof of Stake blockchain networks, primarily Solana and SUI, enabling transaction validation and block proposals; cryptocurrency staking; delegating tokens to validators for passive rewards. The company was formerly known as Cypherpunk Holdings Inc. and changed its name to Sol Strategies Inc. in September 2024. Sol Strategies Inc. was incorporated in 2002 and is headquartered in Toronto, Canada.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Sol Strategies Inc., traded as HODL.CN, has limited publicly available disclosures and its core business activities are not clearly documented in accessible filings or company materials. Because of sparse information, long-term growth drivers are not well defined; the listing may attract speculative retail interest seeking small-cap exposure, and investors should monitor regulatory filings and operational updates for clarity.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Income before tax | -44.81M | 8.19M | -6.31M | 0.79M | -2.36M |
| Net income | -35.04M | 6.61M | -6.28M | 0.36M | -1.17M |
| Selling general administrative | 14.44M | 2.50M | 0.96M | 2.58M | 1.87M |
| Selling and marketing expenses | - | - | 0.43M | - | - |
| Gross profit | - | 9.40M | -5.04M | 3.13M | 0.41M |
| Reconciled depreciation | 10.23M | 0.03M | 0.07M | 0.26M | 0.07M |
| Ebit | - | 7.94M | -6.50M | -3.61M | -3.11M |
| Ebitda | - | 7.97M | -6.46M | 0.55M | -1.42M |
| Depreciation and amortization | - | 0.03M | 0.04M | 4.16M | 1.69M |
| Operating income | -14.05M | 7.94M | -6.43M | -5.98M | -1.49M |
| Other operating expenses | - | 9.40M | 1.39M | 2.84M | 1.95M |
| Interest expense | 3.20M | - | - | - | - |
| Tax provision | -9.78M | 1.58M | -0.03M | 0.43M | -1.19M |
| Net interest income | -3.20M | - | - | - | - |
| Income tax expense | - | 1.58M | -0.03M | 0.43M | -1.19M |
| Total revenue | 14.40M | 9.40M | -5.04M | 4.46M | 0.16M |
| Total operating expenses | 28.45M | 9.40M | 1.39M | 2.84M | 1.95M |
| Cost of revenue | - | - | - | 1.33M | -0.25M |
| Total other income expense net | -27.56M | 8.19M | 0.12M | 0.24M | -0.87M |
| Net income from continuing ops | -35.04M | 6.61M | -6.28M | 0.36M | -1.17M |
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Total assets | 169.60M | 28.90M | 17.05M | 23.89M | 31.23M |
| Intangible assets | 38.81M | - | - | 0.68M | 0.86M |
| Other current assets | - | - | 0.12M | 0.06M | 0.03M |
| Total liab | 54.82M | 2.18M | 0.23M | 0.31M | 3.39M |
| Total stockholder equity | 114.78M | 26.72M | 16.83M | 23.58M | 27.84M |
| Other current liab | - | 0.15M | 0.12M | 0.11M | 0.13M |
| Common stock | - | 17.26M | 17.86M | 18.57M | 18.56M |
| Capital stock | 70.43M | 17.26M | 17.86M | 18.57M | 18.56M |
| Retained earnings | -47.14M | -10.37M | -18.51M | -12.23M | -14.42M |
| Other assets | - | - | -0.00M | - | - |
| Cash | 1.79M | 1.81M | 1.93M | 18.54M | 0.88M |
| Total current liabilities | 32.96M | 1.78M | 0.23M | 0.31M | 1.51M |
| Net debt | 50.13M | -1.81M | -1.93M | -18.54M | 0.31M |
| Short term debt | - | - | - | - | 1.19M |
| Short long term debt | 30.64M | - | - | - | 1.19M |
| Short long term debt total | - | - | - | - | 1.19M |
| Total current assets | 3.55M | 1.81M | 2.04M | 18.74M | 1.39M |
| Long term investments | 0.69M | 1.51M | 6.46M | 3.86M | 4.62M |
| Short term investments | - | - | 0.00M | 0.06M | 24.36M |
| Net receivables | 0.01M | 0.01M | - | 0.09M | 0.48M |
| Long term debt | 21.27M | - | - | - | - |
| Inventory | - | - | - | - | 25.74M |
| Accounts payable | 0.76M | 0.08M | 0.11M | 0.19M | 0.19M |
| Accumulated other comprehensive income | - | 19.84M | 17.47M | 17.24M | 23.70M |
| Non currrent assets other | 126.53M | 25.58M | 7.91M | 0.10M | 4.03M |
| Non current assets total | 166.04M | 27.09M | 15.01M | 5.15M | 29.84M |
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Investments | -74.09M | 1.51M | -14.77M | 18.84M | -12.08M |
| Net borrowings | 73.36M | - | - | - | - |
| Total cash from financing activities | 84.18M | -0.77M | -0.71M | -1.18M | 14.10M |
| Net income | -35.04M | 6.61M | -6.28M | 0.36M | -1.17M |
| Change in cash | -0.02M | -0.12M | -16.61M | 17.66M | 0.39M |
| Begin period cash flow | 1.81M | 1.93M | 18.54M | 0.88M | 0.49M |
| End period cash flow | 1.79M | 1.81M | 1.93M | 18.54M | 0.88M |
| Total cash from operating activities | -11.00M | -0.86M | -1.13M | 0.00M | -1.64M |
| Issuance of capital stock | - | - | - | 0.00M | 12.05M |
| Depreciation | 10.23M | 0.03M | 0.07M | 0.26M | 0.07M |
| Other cashflows from investing activities | - | -5.67M | 1.19M | -0.38M | -0.94M |
| Change to inventory | - | - | - | 0.01M | -0.14M |
| Change to account receivables | -0.16M | 0.11M | 0.03M | 0.09M | -0.07M |
| Sale purchase of stock | 0.00M | -0.94M | -0.71M | 0.00M | - |
| Other cashflows from financing activities | - | 0.17M | - | 0.01M | 12.94M |
| Capital expenditures | 7.75M | 0.00M | 0.00M | 1.79M | 0.94M |
| Change in working capital | -1.22M | 1.74M | 0.01M | 0.03M | 0.06M |
| Stock based compensation | 7.86M | 1.32M | 0.43M | 1.35M | 0.66M |
| Other non cash items | 1.29M | -10.59M | 4.67M | -2.43M | -0.08M |
| Free cash flow | -18.76M | -0.86M | -9.25M | -1.79M | -2.57M |
Sector: Financial Services Industry: Capital Markets
|
Stock Name
|
Change
(CAD) |
Price
(CAD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| HODL Sol Strategies Inc. |
-0.02 1.22% |
1.62 | - | - | 11.78 | 0.70 | 22.02 | 21.67 |
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- -% |
0.04 | 1.25 | - | 0.44 | 0.60 | 0.12 | 0.20 |
| BTC Bluesky Digital Assets Corp |
- -% |
0.11 | - | - | 1.15 | 7.86 | 0.79 | -0.91 |
| LUXX Luxxfolio Holdings Inc |
-0.03 8.62% |
0.27 | - | - | 1.22 | 3.56 | 1.44 | -4.23 |
| ARM Armada Mercantile Ltd |
-0.04 15.38% |
0.22 | - | - | 48.51 | 3.16 | 35.31 | 152.00 |
Sol Strategies Inc. invests in and provides infrastructure for the Solana Blockchain ecosystem. The company operates validator nodes on several Proof of Stake blockchain networks, primarily Solana and SUI, enabling transaction validation and block proposals; cryptocurrency staking; delegating tokens to validators for passive rewards. The company was formerly known as Cypherpunk Holdings Inc. and changed its name to Sol Strategies Inc. in September 2024. Sol Strategies Inc. was incorporated in 2002 and is headquartered in Toronto, Canada.
| Name | Title | Year Born |
|---|---|---|
| Mr. Douglas Andrew Harris C.A., CPA, CBV, M.B.A. | Chief Financial Officer | 1965 |
| Mr. Jon Matonis | Chief Economist & Director | NA |
| Mr. Michael Hubbard | Interim CEO & Director | NA |
| Mr. Andrew McDonald | Chief Operating Officer | NA |
| Mr. Max Kaplan | Chief Technology Officer | NA |
| Mr. Jeremy S. Budd | Corporate Secretary | 1979 |
| Mr. John Joseph Ragozzino Jr., C.F.A. | Investor Contact | NA |
| Mr. Michael Hubbard | Chief Executive Officer & Director | NA |
| Mr. Stephen Jay Ehrlich | Chief Strategy Officer | 1967 |
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