SOL Strategies announces board changes as it pursues Nasdaq listing

TORONTO - SOL Strategies Inc. (CSE:HODL) (OTCQB:CYFRF), a $260 million market cap Solana blockchain infrastructure company, announced Monday a series of board changes as it pursues growth and a potential Nasdaq listing. According to InvestingPro data, the company’s stock has delivered an impressive 1,133% return over the past year.

Luis Berruga, who joined the company’s board in March 2025, has been appointed Chairman of the Board of Directors. Berruga previously served as CEO and Chairman of Global X ETFs, where he oversaw growth to over $80 billion in assets under management.

Tony Guoga will step down as Chairman and transition to a Strategic Advisor role, continuing to work with the leadership team.

The company also appointed two new directors: José Manuel Calderón, former Toronto Raptors player with a 14-year NBA career, joins as an independent director, while Michael Hubbard, the company’s Chief Strategy Officer and a recognized leader in the Solana validator community, has also been appointed to the board.

"This transition represents a pivotal moment in SOL Strategies’ evolution as we position ourselves for accelerated growth and expanded market presence," said Leah Wald, CEO of SOL Strategies, in the press release. The company has demonstrated remarkable growth, with revenue increasing by over 900% in the last twelve months. InvestingPro analysis reveals 14 additional key insights about the company’s performance and outlook.

The company stated the appointments are designed to strengthen corporate governance, enhance board expertise, and support its Nasdaq listing objectives.

SOL Strategies describes itself as a Canadian investment company specializing in the Solana ecosystem, providing strategic investments and infrastructure solutions for decentralized applications.

The board changes come as the institutional Solana ecosystem faces increasing competition and evolving regulatory frameworks, according to the company’s statement. With a Financial Health Score of "FAIR" and a beta of 3.06, InvestingPro data suggests the company operates in a highly volatile market environment. Subscribers to InvestingPro can access detailed analysis of the company’s competitive position and growth prospects.

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