The Solana Company Announces $100M Share Buyback Program

Solana Company, a crypto treasury firm with major holdings in Solana (SOL), has announced plans to buy back up to $100 million worth of its common shares. 

The decision, revealed on Wednesday, shows strong confidence in the company’s long-term strategy. It also reflects the firm’s belief in the value of its stock despite recent market volatility.

A Strategic Step to Support Share Value

Solana Company said the new share repurchase program will be open-ended, meaning there is no fixed end date. This will allow the firm to buy back its shares either through the open market or through private transactions when it sees fit. 

This approach helps reduce the gap between their stock price and net asset value (NAV). It also helps strengthen investor trust and stabilize share performance during uncertain market conditions. 

Solana Company’s share buyback program reflects a growing trend across the digital asset industry. More digital asset treasuries (DATs) are launching share repurchase programs.  

Solana Company Reaffirms Strategy and Expands Holdings

Several crypto-related firms like Ripple, Galaxy Digital, and Grayscale have taken similar steps. In 2024, Ripple launched a substantial $285 million share buyback from its early investors. 

This move showed the fintech firm’s confidence in its growth trajectory and its commitment to enhancing shareholder value.

In a recent statement, Executive Chairman Joseph Chee explained that the buyback aligns with the company’s goal of maximizing returns for shareholders. 

He added that despite market adjustments, the company remains committed to its strategic direction. It also continues to uphold its promise to deliver value and transparency to shareholders.

Solana Company’s buyback announcement follows the company’s recent purchase of about 100,000 SOL tokens, valued at around $20 million at the time. This brings Solana Company’s total holdings to more than 2.3 million SOL, underscoring its strong conviction in the Solana blockchain ecosystem.

The firm, formerly known as Helius Medical Technologies, has been rebranding its identity. It is now focusing on digital assets and blockchain investments as part of its growth strategy.

Solana Company Strengthens Leadership Amid Sharp Stock Decline

Despite its strategic moves, Solana Company’s stock has faced pressure in recent weeks. According to Yahoo Finance, the shares were trading at $4.79, down more than 70% over the past month.

However, the Solana Company appears determined to turn things around. It announced earlier this week that Cosmo Jiang, General Partner at Pantera Capital, has joined its board of directors. The move is aimed at strengthening the company’s leadership team.

His experience in digital asset investments is expected to bring fresh insights to the company’s next phase of growth.