NEW YORK, May 5, 2026 – SOL Strategies Inc. is a company listed on the Nasdaq stock exchange. On May 4, 2026, the firm announced that it reached a final agreement to buy HoudiniSwap LLC. The total price for the purchase is set at $18.1 million. This news was reported at 8:30 in the morning on the East Coast.
The total cost of $18.1 million is split into four distinct parts. The company will pay $8.25 million in cash. It will provide $4 million in common shares of SOL Strategies stock. The deal includes a $5.75 million promissory note (a written promise to pay back a debt) with a term of six months. The deal also includes $100,000 in common share purchase warrants (contracts that give the holder the right to buy stock at a set price before they expire). These financial details were confirmed in the official SEC filing and other industry reports.
The agreement also features an earn-out provision. This part of the deal could add up to $10 million over a two-year period. To receive this money, HoudiniSwap must reach an annual EBITDA (earnings before interest, taxes, depreciation, and amortization, which is a common way to measure profit from daily operations) goal of $2.5 million.
HoudiniSwap is a non-custodial swap aggregator. A non-custodial service means the platform does not hold or take ownership of the digital assets belonging to the user during a trade. As an aggregator, the system finds and combines trades to help people swap assets across more than 100 different blockchain networks. The Block reported that the platform uses Monero, which is also known as XMR, as a tunnel asset. This asset works to hide the connection between the wallet that sends the money and the wallet that receives it. While The Block identified Monero by name, other official papers like the SEC filing and the Newsfile release did not. Those documents called the platform anonymous or privacy-focused without naming a specific asset.
The platform has handled a high volume of trades since it was first created. It has processed a total of more than $2.5 billion in cumulative transaction volume. In the year 2025 alone, HoudiniSwap reported that it earned approximately $13 million in revenue.
SOL Strategies currently works as a treasury and validator firm. A validator is a service that helps process and verify transactions on a blockchain like Solana. By buying HoudiniSwap, the company is moving into new business areas. They want to focus on transaction routing and earning money from software services. The company said this change helps them build the tools needed for large financial institutions to trade on blockchains with better privacy.
The firm confirmed that it does not plan to sell any of its Solana holdings from its treasury to pay for this $18.1 million purchase. The acquisition is expected to close by May 29, 2026. Before the deal can be finished, the Canadian Securities Exchange must give its official approval.
Sources
- The Block – https://www.theblock.co/post/399844/sol-strategies-buy-houdini (Published/Updated: May 4, 2026, 08:30 EDT)
- SEC.gov (Official Filing) – https://www.sec.gov/Archives/edgar/data/1846839/000106299326002286/exhibit99-1.htm (Published/Updated: May 4, 2026)
- Crypto Briefing – https://cryptobriefing.com/sol-infrastructure-expansion-strategies/ (Published/Updated: May 4, 2026)
- Newsfile – https://www.newsfilecorp.com/release/295711/SOL-Strategies-Announces-Definitive-Agreement-to-Acquire-Houdini-Swap-Expanding-Privacy-Focus-and-Acquiring-Diversified-Revenue-Streams (Published/Updated: May 4, 2026)
