Four validators have been acquired by Sol Strategies (HODL), a cryptocurrency investment company run by Leah Wald, former CEO of Valkyrie Investments, for around $18 million in cash and stock.

Validators are organizations that handle transactions and contribute to the security of proof-of-stake (PoS) blockchains, like Ethereum and Solana, by committing or staking specific quantities of the network’s cryptocurrency. Essentially, validators function similarly to miners on a blockchain that uses proof-of-work (PoW), like Bitcoin.

A statement on Thursday revealed that Cogent Crypto, a high-performance validator that operates within the Solana ecosystem, will sell the validators to the Toronto-based company. The company will purchase validators from Cogent Crypto for Solana (SOL), Sui (SUI), Monad (MONAD), and ARCH (ARCH) networks, with the majority of the funds going towards Solana.

Sol Strategies stated that the investment’s total worth of $18 million is divided into three installments: $1 million in cash and approximately $1 million in business shares at the deal’s closure with the remaining funds being disbursed over three years in shares.

Leah Wald, CEO of Sol Strategies shared the strategy behind the acquisition of the four new validators.

Wald said:

For this next phase of Sol Strategies, we are focused on making the company’s first acquisition to advance the company’s long-term growth strategy. This acquisition will meaningfully expand Sol Strategies’ staking capabilities, which underpins Solana’s reputation as a next generation blockchain for institutional and decentralized applications alike. By building on Cogent Crypto’s established role in the ecosystem, Sol Strategies is positioned to support the future of decentralized finance and drive long-term value creation for shareholders.

Sol Strategies further said it aims to make it possible for shareholders to take part in decentralized finance (defi) by leveraging investment opportunities in staking rewards and Solana-based enterprises.

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