On December 31, 2024, Orangefin Ventures LLC completed the sale of blockchain validators, along with certain associated assets and rights, to Sol Strategies Inc., a reporting issuer on the Canadian Securities Exchange. The integration of Orangefin’s validator network and operational expertise is expected to deliver immediate value to Sol Strategies by enhancing its validator capacity and driving sustainable staking revenue growth.
As consideration, on closing, Orangefin received $750,000 USDC and common shares in the capital of Sol Strategies valued at US$750,000. Orangefin will receive an additional US$5 million, denominated in common shares in the capital of Sol Strategies, in equal tranches every six months over a period of three years from the date of closing.
Cassels acted as Canadian counsel to Orangefin.