Core Viewpoint - SOL Strategies Inc. has provided a corporate update for May 2025, highlighting its financial results for Q2 2025 and ongoing strategic initiatives within the Solana blockchain ecosystem [1][6]. Financial Performance - Revenue for the six months ended March 31, 2025, was approximately $8.2 million, representing a 186% increase from $2.9 million in the same period in 2024 [9]. - Q2 revenue was approximately $2.5 million, compared to a loss of $67,000 in Q2 2024 [9]. - Total SOL holdings as of March 31, 2025, were 267,321 SOL, valued at approximately CAD $48 million [9]. - Total liquidity as of March 31, 2025, was approximately $50.0 million [9]. Strategic Initiatives - The company closed the initial US$20 million tranche of its up to US$500 million convertible note facility with ATW Partners, using the proceeds to acquire 122,524 SOL at an average price of $148.96 [8]. - SOL Strategies filed a preliminary short form base shelf prospectus for potential future offerings of up to USD $1 billion, enhancing its financial flexibility [10]. - The company signed a non-binding memorandum of understanding with Superstate to explore tokenized equity solutions, aiming to enable 24/7 global trading [11]. Operational Highlights - The validator network served over 5,500 unique wallets, with total SOL delegated to the network growing from 1.57 million SOL in January 2025 to 3.39 million by March 31, 2025 [9][19]. - The company successfully completed SOC 1 Type 1, SOC 2 Type 1, and ISO 27001 audits for its staking platform, validating its security practices [14]. Partnerships and Collaborations - SOL Strategies announced a strategic staking partnership with DigitalX Limited, which will stake its Solana holdings through BitGo's institutional custody platform [12]. - This partnership positions SOL Strategies among a select group of trusted institutional validators globally, expanding its international client base [13].

Core Viewpoint - SOL Strategies Inc. has made significant strides in expanding its validator network and enhancing its position within the Solana blockchain ecosystem through strategic acquisitions and operational excellence [2][7]. Company Developments - The acquisition of Laine's validator network and Stakewiz.com for CAD $35 million on March 17, 2025, increased the total SOL staked at the company's validators to 3,351,617 SOL, marking a 102% increase from February [7]. - Michael Hubbard, founder of Laine, has joined SOL Strategies as Chief Strategy Officer to lead validator infrastructure expansion and institutional partnerships [8]. - The company acquired 24,000 SOL at an average cost of approximately CAD $199 per token, holding a total of 267,151 SOL by March 31, 2025, with 265,295 SOL staked [11]. Validator Performance Metrics - Total SOL staked across all validators reached 3,391,092 SOL, valued at approximately CAD $552 million (USD $396 million) [3]. - The company operates four validators, including one added through the Laine acquisition [3]. - Uptime across all validators was reported at 99.955%, with an average annual percentage yield (APY) delivered to delegators at 7.41%, outperforming the network average of 7.32% [10]. Market Context - The price of SOL experienced notable volatility in March, starting at around $144, reaching a low of approximately $110, a high of about $178, and closing just under $126, resulting in an overall decline of roughly 12.5% for the month [15]. - Despite the price decline, the underlying protocol-level rewards remained steady, indicating resilience in the staking operations [6]. Industry Engagement - SOL Strategies' CEO Leah Wald participated in various media platforms and industry events, reinforcing the company's thought leadership within the digital asset space [12]. - The Solana ecosystem saw significant developments, including Visa and Worldpay expanding their use of Solana for stablecoin settlement, and Solana Mobile delivering pre-orders of its second smartphone focused on Web3-native experiences [13][14].

As filed with the U.S. Securities and Exchange Commission on April 12, 2024. THE SECURITIES ACT OF 1933 CORE SCIENTIFIC, INC. (Exact name of registrant as specified in its charter) Delaware 7370 86-1243837 (I.R.S. Employer Identification No.) Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) 838 Walker Road, ...