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    SOL Strategies Inc.

    Company overview

    Market capitalization
    —
    Employees
    —
    Latest publication
    2026-09-29
    About SOL Strategies Inc.

    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.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-03-31 · CADQ1 20262025-12-31 · CADQ4 20252025-09-30 · CADQ3 20252025-06-30 · CADQ2 20252025-03-31 · CADQ1 20252024-12-31 · CADQ4 20242024-09-30 · CADQ3 20242024-06-30 · CAD
    Total Revenue-14,513,100CAD-3,926,107CAD3,676,371CAD300,492CAD2,530,510CAD5,674,775CAD10,321,849CAD-1,192,177CAD
    Cost Of Revenue2,356,870CAD1,157,912CAD1,538,619CAD1,161,443CAD784,782CAD32,863CAD——
    Gross Profit-16,869,971CAD-1,157,912CAD-1,538,619CAD-860,951CAD-784,782CAD-32,863CAD——
    Selling General Administrative3,353,630CAD3,960,386CAD5,046,478CAD3,376,858CAD4,812,459CAD1,207,778CAD1,783,622CAD475,965CAD
    Unclassified Operating Expenses57,178,933CAD6,728,340CAD28,496,657CAD3,912,894CAD—-5,629,370CAD-8,830,788CAD1,021,282CAD
    Total Operating Expenses60,532,563CAD10,688,726CAD33,543,135CAD7,289,752CAD5,202,523CAD-4,421,592CAD-7,047,166CAD1,497,247CAD
    Operating Income-77,402,535CAD-11,846,638CAD-35,081,754CAD-8,150,703CAD-5,987,305CAD4,388,729CAD7,047,166CAD-1,497,247CAD
    Interest Expense546,990CAD1,157,912CAD1,538,619CAD1,161,443CAD784,782CAD32,863CAD—0CAD
    Net Interest Income-545,581CAD-1,157,912CAD-1,538,619CAD-860,951CAD-784,782CAD-32,863CAD—0CAD
    Income Before Tax-90,111,662CAD-11,846,638CAD-35,081,754CAD-8,150,703CAD-5,987,305CAD4,388,729CAD5,462,908CAD-1,497,247CAD
    Tax Provision0CAD0CAD-9,825,097CAD49,347CAD-1,163,013CAD1,163,013CAD—0CAD
    Net Income-90,111,662CAD-11,846,638CAD-25,256,657CAD-8,200,049CAD-4,824,292CAD3,225,716CAD5,462,908CAD-1,497,247CAD
    Net Income From Continuing Ops-89,879,391CAD-11,846,638CAD-25,256,657CAD-8,200,050CAD-4,824,292CAD3,225,716CAD5,462,908CAD-1,497,247CAD
    Ebit-89,564,670CAD-10,688,726CAD-33,543,135CAD-6,989,260CAD-5,202,523CAD4,421,592CAD9,595,229CAD-1,497,247CAD
    Ebitda-87,207,800CAD-8,290,383CAD-29,906,119CAD-2,988,330CAD-2,660,689CAD4,471,674CAD9,603,138CAD-1,489,338CAD
    Depreciation And Amortization2,356,870CAD2,398,343CAD3,637,016CAD4,000,930CAD2,541,834CAD50,082CAD7,909CAD7,909CAD
    Reconciled Depreciation2,350,796CAD2,398,343CAD3,637,016CAD4,000,930CAD2,541,834CAD50,082CAD7,909CAD7,909CAD
    Total Other Income Expense Net-12,709,126CAD105,190CAD-27,776,468CAD143,802CAD-149,160CAD215,473CAD-1,584,258CAD186,713CAD
    Income Tax Expense——-9,825,097CAD49,347CAD-1,163,013CAD1,163,013CAD——
    Interest Income———300,492CAD———0CAD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-09-30 · CADFY 20242024-09-30 · CADFY 20232023-09-30 · CADFY 20222022-09-30 · CADFY 20212021-09-30 · CAD
    Total Revenue14,400,236CAD9,402,946CAD-1,134,697CAD208,699CAD117,664CAD
    Cost Of Revenue3,197,059CAD————
    Gross Profit-3,197,059CAD————
    Selling General Administrative14,443,572CAD2,498,194CAD1,393,003CAD2,582,306CAD1,870,569CAD
    Unclassified Operating Expenses27,170,245CAD-10,690,116CAD4,916,269CAD-3,375,503CAD—
    Total Operating Expenses41,613,817CAD-8,191,922CAD6,309,272CAD-793,197CAD2,360,497CAD
    Operating Income-44,810,876CAD8,191,922CAD-6,309,272CAD793,197CAD-2,360,497CAD
    Interest Expense3,197,059CAD0CAD———
    Net Interest Income-3,197,059CAD0CAD———
    Income Before Tax-44,810,876CAD8,191,922CAD-6,309,272CAD793,197CAD-2,360,497CAD
    Income Tax Expense-9,775,750CAD1,584,258CAD-26,944CAD434,741CAD-1,186,000CAD
    Tax Provision-9,775,750CAD1,584,258CAD-26,944CAD434,741CAD-1,186,000CAD
    Net Income-35,035,126CAD6,607,664CAD-6,282,328CAD358,456CAD-1,174,497CAD
    Net Income From Continuing Ops-35,035,126CAD6,607,664CAD-6,282,328CAD358,456CAD-1,174,497CAD
    Ebit-41,613,817CAD7,938,027CAD-6,658,835CAD-3,954,991CAD-1,827,461CAD
    Ebitda-31,383,955CAD7,969,663CAD-6,587,950CAD-3,699,443CAD-1,752,905CAD
    Depreciation And Amortization10,229,862CAD31,636CAD70,885CAD255,548CAD74,556CAD
    Reconciled Depreciation10,229,862CAD31,636CAD70,885CAD255,548CAD74,556CAD
    Total Other Income Expense Net-27,560,464CAD253,895CAD349,563CAD4,748,188CAD-533,036CAD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-03-31 · CADQ1 20262025-12-31 · CADQ4 20252025-09-30 · CADQ3 20252025-06-30 · CADQ2 20252025-03-31 · CADQ1 20252024-12-31 · CADQ4 20242024-09-30 · CADQ3 20242024-06-30 · CAD
    Total Assets86,082,810CAD132,089,745CAD169,597,003CAD164,283,730CAD124,911,556CAD74,632,177CAD28,903,645CAD28,354,585CAD
    Intangible Assets22,010,901CAD36,414,273CAD38,809,125CAD69,982,072CAD73,980,318CAD33,768,545CAD——
    Total Liab45,225,403CAD52,271,393CAD54,816,350CAD62,149,869CAD40,231,936CAD14,434,465CAD2,180,021CAD477,337CAD
    Total Stockholder Equity40,857,406CAD79,818,352CAD114,780,653CAD102,133,861CAD84,679,620CAD60,197,712CAD26,723,624CAD27,877,248CAD
    Other Current Liab-991,224CAD1,236,814CAD1,556,965CAD3,286,955CAD4,298,388CAD5,188,810CAD149,516CAD234,000CAD
    Common Stock109,097,481CAD85,378,551CAD70,428,555CAD62,597,628CAD35,990,304CAD20,154,351CAD17,256,668CAD16,966,421CAD
    Capital Stock108,816,273CAD85,378,551CAD70,428,555CAD62,597,628CAD35,990,304CAD20,154,351CAD17,256,668CAD16,966,421CAD
    Retained Earnings-142,019,752CAD-58,985,972CAD-47,139,334CAD-20,169,636CAD-11,969,587CAD-7,145,295CAD-10,371,011CAD-12,579,189CAD
    Cash368,477CAD222,466CAD1,785,403CAD3,164,338CAD1,692,837CAD1,279,322CAD1,808,052CAD8,550,548CAD
    Cash And Short Term Investments368,477CAD222,466CAD1,785,403CAD3,164,338CAD1,692,837CAD1,279,322CAD1,808,052CAD8,550,548CAD
    Total Current Assets1,984,618CAD2,976,405CAD3,552,554CAD3,353,165CAD1,908,669CAD1,337,597CAD1,814,802CAD8,653,387CAD
    Total Current Liabilities21,310,368CAD29,803,422CAD32,959,553CAD20,032,680CAD20,947,500CAD9,740,291CAD1,780,615CAD477,337CAD
    Net Debt43,085,242CAD49,612,144CAD50,128,844CAD51,627,436CAD29,002,503CAD2,876,892CAD-1,808,052CAD-8,550,548CAD
    Short Term Debt21,310,368CAD27,951,620CAD30,642,431CAD16,164,590CAD16,180,172CAD4,156,214CAD——
    Short Long Term Debt21,255,440CAD27,951,620CAD30,642,431CAD16,164,590CAD16,180,172CAD4,156,214CAD——
    Short Long Term Debt Total43,453,719CAD49,834,610CAD51,914,247CAD54,791,774CAD30,695,340CAD4,156,214CAD——
    Long Term Debt22,086,274CAD21,882,990CAD21,271,816CAD38,627,184CAD14,515,168CAD———
    Long Term Investments488,781CAD488,781CAD685,662CAD685,662CAD685,662CAD685,662CAD1,513,331CAD2,524,327CAD
    Net Receivables1,616,140CAD1,611,976CAD1,611,976CAD12,482CAD——6,750CAD78,714CAD
    Accounts Payable991,224CAD614,988CAD760,157CAD581,135CAD468,940CAD395,267CAD83,413CAD243,337CAD
    Property Plant Equipment Net13,447CAD16,829CAD20,320CAD17,626CAD17,635CAD—0CAD—
    Property Plant Equipment Gross36,654CAD36,654CAD36,654CAD30,968CAD18,839CAD———
    Accumulated Other Comprehensive Income73,779,677CAD53,425,773CAD91,491,432CAD59,705,869CAD60,658,903CAD47,188,656CAD19,837,967CAD23,490,016CAD
    Common Stock Shares Outstanding26,123,983shares27,672,720shares16,513,885shares21,049,082shares20,024,396shares20,052,801shares19,350,611shares19,376,847shares
    Non Current Assets Total84,098,192CAD129,113,340CAD166,044,449CAD160,930,565CAD123,002,887CAD73,294,580CAD27,088,843CAD19,701,198CAD
    Non Current Liabilities Total23,915,034CAD22,467,971CAD21,856,797CAD42,117,189CAD19,284,436CAD4,694,174CAD399,406CAD0CAD
    Non Currrent Assets Other768,500CAD92,193,457CAD126,529,342CAD90,245,205CAD48,319,272CAD38,561,505CAD25,575,512CAD16,543,726CAD
    Net Working Capital-20,276,536CAD-26,827,017CAD-29,406,999CAD-16,679,515CAD-19,038,831CAD-8,402,694CAD34,187CAD8,176,050CAD
    Unclassified Non Current Assets60,816,563CAD———————
    Unclassified Current Liabilities-22,246,664CAD-27,951,620CAD-30,642,431CAD-16,164,590CAD-16,180,172CAD-4,156,214CAD1,547,686CAD—
    Unclassified Non Current Liabilities1,828,760CAD———————
    Unclassified Equity-108,816,273CAD-85,378,551CAD-70,428,555CAD-62,597,628CAD-35,990,304CAD-20,154,351CAD-17,256,668CAD-16,966,421CAD
    Other Current Assets—1,141,963CAD155,175CAD176,345CAD215,832CAD58,275CAD—24,125CAD
    Non Current Liabilities Other———3,090,599CAD4,369,862CAD4,294,768CAD——
    Good Will—————278,868CAD——
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-09-30 · CADFY 20242024-09-30 · CADFY 20232023-09-30 · CADFY 20222022-09-30 · CADFY 20212021-09-30 · CAD
    Total Assets169,597,003CAD28,903,645CAD17,054,245CAD23,892,055CAD31,230,861CAD
    Intangible Assets38,809,125CAD——675,289CAD864,025CAD
    Other Current Assets155,175CAD—54,477CAD58,950CAD32,790CAD
    Total Liab54,816,350CAD2,180,021CAD226,476CAD308,292CAD3,389,320CAD
    Total Stockholder Equity114,780,653CAD26,723,624CAD16,827,769CAD23,583,763CAD27,841,541CAD
    Other Current Liab1,556,965CAD149,516CAD119,451CAD113,451CAD133,200CAD
    Common Stock70,428,555CAD17,256,668CAD17,864,782CAD18,572,547CAD18,559,920CAD
    Capital Stock70,428,555CAD17,256,668CAD17,864,782CAD18,572,547CAD18,559,920CAD
    Retained Earnings-47,139,334CAD-10,371,011CAD-18,509,213CAD-12,226,885CAD-14,417,861CAD
    Cash1,785,403CAD1,808,052CAD1,927,280CAD18,537,221CAD876,757CAD
    Cash And Short Term Investments1,785,403CAD1,808,052CAD1,927,280CAD18,597,258CAD876,757CAD
    Total Current Assets3,552,554CAD1,814,802CAD2,044,418CAD18,744,868CAD1,386,017CAD
    Total Current Liabilities32,959,553CAD1,780,615CAD226,476CAD308,292CAD1,507,320CAD
    Net Debt50,128,844CAD-1,808,052CAD-1,927,280CAD-18,537,221CAD309,049CAD
    Short Term Debt30,642,431CAD———1,185,806CAD
    Short Long Term Debt30,642,431CAD———1,185,806CAD
    Short Long Term Debt Total51,914,247CAD———1,185,806CAD
    Long Term Debt21,271,816CAD————
    Long Term Investments685,662CAD1,513,331CAD6,464,119CAD3,859,808CAD4,620,462CAD
    Net Receivables1,611,976CAD6,750CAD62,661CAD88,660CAD476,470CAD
    Accounts Payable760,157CAD83,413CAD107,025CAD194,841CAD188,314CAD
    Property Plant Equipment Net20,320CAD0CAD———
    Property Plant Equipment Gross36,654CAD————
    Accumulated Other Comprehensive Income91,491,432CAD19,837,967CAD17,472,200CAD17,238,101CAD23,699,482CAD
    Common Stock Shares Outstanding20,092,474shares18,648,420shares19,509,191shares20,007,915shares16,775,045shares
    Non Current Assets Total166,044,449CAD27,088,843CAD15,009,827CAD5,147,187CAD29,844,844CAD
    Non Current Liabilities Total21,856,797CAD399,406CAD0CAD0CAD1,882,000CAD
    Non Currrent Assets Other126,529,342CAD25,575,512CAD7,912,563CAD97,240CAD24,360,357CAD
    Net Working Capital-29,406,999CAD34,187CAD1,817,942CAD18,436,576CAD-121,303CAD
    Unclassified Current Liabilities-30,642,431CAD1,547,686CAD——-1,185,806CAD
    Unclassified Equity-70,428,555CAD-17,256,668CAD-17,864,782CAD-18,572,547CAD-18,559,920CAD
    Short Term Investments——0CAD60,037CAD0CAD
    Non Current Liabilities Other———-1CAD—
    Unclassified Non Current Liabilities————1,882,000CAD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-03-31 · CADQ1 20262025-12-31 · CADQ4 20252025-09-30 · CADQ3 20252025-06-30 · CADQ2 20252025-03-31 · CADQ1 20252024-12-31 · CADQ4 20242024-09-30 · CADQ3 20242024-06-30 · CAD
    Net Income-90,111,662CAD-11,846,638CAD-18,134,279CAD-6,022,935CAD-3,352,111CAD3,225,716CAD5,462,908CAD-1,256,003CAD
    Depreciation2,356,870CAD2,398,343CAD2,611,377CAD2,938,682CAD1,766,167CAD50,082CAD7,909CAD7,909CAD
    Stock Based Compensation919,454CAD1,276,413CAD2,169,468CAD1,843,959CAD3,220,195CAD628,796CAD1,239,085CAD19,065CAD
    Other Non Cash Items85,633,959CAD4,044,801CAD14,081,760CAD-342,721CAD639,980CAD-5,649,270CAD-8,778,330CAD1,041,350CAD
    Change To Account Receivables376,415CAD-986,788CAD-1,133,236CAD19,835CAD-109,476CAD-51,525CAD96,089CAD-715CAD
    Change In Working Capital291,511CAD-1,452,108CAD-673,463CAD-522,478CAD-705,073CAD1,440,144CAD1,473,347CAD303,221CAD
    Total Cash From Operating Activities-1,829,320CAD-5,579,189CAD-2,114,605CAD-3,949,452CAD-1,651,037CAD-304,532CAD-595,081CAD115,542CAD
    Capital Expenditures-4CAD0CAD-19,527CAD-2CAD-42,246,771CAD-34,324,259CAD0CAD0CAD
    Free Cash Flow-1,829,324CAD-5,579,189CAD-2,134,132CAD-3,949,450CAD-1,651,037CAD-34,628,791CAD-595,081CAD115,542CAD
    Investments1,147,050CAD-22,730,270CAD-7,418,345CAD41,033,905CAD-77,143,157CAD-38,340,120CAD-6,297,415CAD1,370,806CAD
    Total Cashflows From Investing Activities1,150,014CAD-22,730,270CAD899,867CAD30,139,403CAD-53,602,151CAD-38,340,120CAD-6,297,415CAD1,370,806CAD
    Net Borrowings-1,178,845CAD-1,119,420CAD57,200,000CAD-15,582CAD12,023,958CAD4,156,214CAD—0CAD
    Total Cash From Financing Activities824,743CAD26,746,522CAD224,662CAD-25,109,133CAD55,540,515CAD38,115,922CAD150,000CAD-532,075CAD
    Issuance Of Capital Stock2,144,450CAD0CAD——15,000,000CAD2,472,149CAD——
    Change In Cash142,558CAD-1,562,937CAD-1,042,287CAD1,147,956CAD287,250CAD-528,730CAD-6,742,496CAD954,273CAD
    Begin Period Cash Flow225,918CAD1,785,403CAD2,324,206CAD1,176,250CAD889,000CAD1,808,052CAD8,550,548CAD7,596,275CAD
    End Period Cash Flow368,477CAD222,466CAD1,281,919CAD2,324,206CAD1,176,250CAD1,279,322CAD1,808,052CAD8,550,548CAD
    Other Cashflows From Financing Activities-5,895,776CAD27,865,942CAD-57,200,000CAD-34,056,461CAD46,781,819CAD31,487,559CAD150,000CAD20,963CAD
    Unclassified Financing Cash Flow5,754,914CAD——8,962,910CAD-18,265,262CAD———
    Sale Purchase Of Stock——0CAD0CAD——0CAD-553,038CAD
    Other Cashflows From Investing Activities——-2CAD-1CAD1CAD—-5,941,789CAD270,661CAD
    Unclassified Operating Cash Flow——-2,169,468CAD-1,843,959CAD-3,220,195CAD———
    Unclassified Investing Cash Flow——8,337,741CAD-10,894,499CAD65,787,776CAD34,324,259CAD5,941,789CAD—
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-09-30 · CADFY 20242024-09-30 · CADFY 20232023-09-30 · CADFY 20222022-09-30 · CADFY 20212021-09-30 · CADFY 20202020-09-30 · CAD
    Net Income-35,035,126CAD6,607,664CAD-6,282,328CAD358,456CAD-1,174,497CAD379,020CAD
    Depreciation10,229,862CAD31,636CAD70,885CAD255,548CAD74,556CAD—
    Stock Based Compensation7,862,418CAD1,320,919CAD430,945CAD1,345,099CAD664,195CAD—
    Other Non Cash Items15,339,622CAD-10,592,027CAD4,665,740CAD-2,425,913CAD-75,079CAD—
    Change To Account Receivables-1,760,401CAD110,388CAD30,472CAD105,538CAD-73,969CAD—
    Change In Working Capital-1,223,894CAD1,738,507CAD8,693CAD32,280CAD61,430CAD—
    Total Cash From Operating Activities-11,002,868CAD-856,729CAD-1,133,009CAD211CAD-1,635,395CAD—
    Capital Expenditures-7,753,192CAD0CAD-8,120,383CAD-1,791,820CAD-938,581CAD0CAD
    Free Cash Flow-18,756,060CAD-856,729CAD-1,133,009CAD-1,791,609CAD-2,573,976CAD—
    Investments-74,093,010CAD1,505,462CAD-14,769,167CAD18,836,059CAD-12,075,064CAD—
    Total Cashflows From Investing Activities-73,196,074CAD1,505,462CAD-14,769,167CAD18,836,059CAD-12,075,064CAD—
    Net Borrowings73,364,590CAD0CAD0CAD-1,185,806CAD1,163,383CAD—
    Total Cash From Financing Activities84,176,293CAD-767,961CAD-707,765CAD-1,175,806CAD14,101,837CAD—
    Sale Purchase Of Stock0CAD-938,924CAD-707,765CAD0CAD——
    Change In Cash-22,649CAD-119,228CAD-16,609,941CAD17,660,464CAD391,378CAD—
    Begin Period Cash Flow1,808,052CAD1,927,280CAD18,537,221CAD876,757CAD485,379CAD—
    End Period Cash Flow1,785,403CAD1,808,052CAD1,927,280CAD18,537,221CAD876,757CAD485,379CAD
    Other Cashflows From Investing Activities8,650,128CAD-5,671,128CAD1,194,542CAD16,440,791CAD——
    Unclassified Operating Cash Flow-8,175,750CAD———-1,186,000CAD—
    Unclassified Financing Cash Flow10,811,703CAD—————
    Other Cashflows From Financing Activities—170,963CAD—10,000CAD892,500CAD—
    Unclassified Investing Cash Flow—5,671,128CAD6,925,841CAD-14,648,971CAD——
    Issuance Of Capital Stock———0CAD12,045,954CAD—
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    No operating metrics are currently published for this company.

    Revenue breakdown

    No revenue breakdown is currently published for this company.

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.