SOL Strategies (HODL), a Canadian company running infrastructure on the Solana network, revealed it acquired 24,000 SOL tokens in March at an average cost of about C$199 ($139.8) each. The purchase, worth around $3.37 million, brought the firm’s total SOL holdings to 267,151 tokens.

Nearly all of the company’s SOL—roughly 265,295 tokens—are now staked across four validators that it operates, according to its latest operational update. Since early March, the company’s share price plunged roughly 25% while SOL dropped 27% over the same period.

Since the start of the Trump presidency, SOL Strategies’ stock is down 67%, while Solana has fallen 58%.

Led by Leah Wald, a former Valkyrie Investments co-founder, SOL Strategies has been aggressively expanding its validator infrastructure, not just on Solana but also on other Proof-of-Stake chains, including Sui (SUI), Monad (MONAD) and ARCH (ARCH). Validators secure these networks by staking their respective tokens and processing transactions, earning rewards in return.

In March, the firm acquired three validator nodes, including one from Laine and the analytics platform Stakewiz, for roughly $24.5 million. That deal more than doubled the amount of SOL staked on the company’s infrastructure—from 1.66 million to over 3.35 million tokens.

The company also owns 3.211 bitcoin, though it remains focused on the Solana ecosystem.