SOL Strategies Stock Climbs 21% as Validator Wallet Count Crosses 33K

The stock of SOL Strategies has seen major price spikes in the market during Wednesday’s trading hours. This comes as the company has released an update regarding the growth of the number of its validator network wallet count.

SOL Strategies Stock Spikes Due to High Network Wallet Count

The Solana treasury stock pumped by almost 21% as a result of the update released by the company regarding the growth of the Solana validator and staking business.

This comes as the company released an update regarding the growth of the number of its Solana validator network, which reached 33,568 unique wallets in February, as opposed to the 31,000 wallets that were announced on February 2.

The stock rally comes after SOL Strategies officially launched on the Nasdaq Global Select Market under the ticker symbol STKE in September last year, making it one of the first companies to use the Solana protocol to access the US capital markets.

Among the key drivers of this growth has been the company’s STKESOL liquid staking platform. This has seen over 691,039 SOL staked and over 1,000 holders since its launch in January.

According to Michael Hubbard, Interim CEO of SOL Strategies, the company’s staking infrastructure has continued to scale even during periods of stock and token volatility.

“Validator revenue grew 120% on a SOL basis year-over-year, proving our revenue model scales independent of token price,” he said. “STKESOL crossing 690,000 SOL staked and 1,000 holders in its first weeks shows we built something the market actually wants.”

Solana Treasury Expands Portfolio Despite Downturn

In the report, the firm declared that it has a total of 3.87 million SOL in assets under delegation. This includes the company’s treasury stake as well as the delegation from third parties. In February, the firm’s proprietary validators earned rewards of around 1,276 SOL. This was followed by 99.99% uptime on the system.

Just as the firm is shifting more focus to staking, other Solana treasuries are also pivoting their strategies as SOL stocks pick up. A good example is DeFi Dev Corp, which started earning rewards from its holdings of SOL.

Interestingly, despite the new rally, the shares of SOL Strategies is still down by around 76% from the time it began trading in September. However, the firm’s CEO declared that the firm’s latest quarterly results have again validated the stock’s upward trajectory over the last year.

In the fourth quarter of 2025, the firm reported $1.5 million in total staking and validation revenue, an increase of 69% year-over-year. Its staking and validator rewards came in at 9,787 SOL in the quarter, an increase of 120% year-over-year.