SOL Strategies Reports $1.1M CAD Revenue from Houdini Swap in Q3 2026

SOL Strategies, an infrastructure firm focused on Solana, has reported a revenue of approximately $1.1 million CAD from its recently acquired cross-chain trading platform, Houdini Swap, for the fiscal Q3 2026. This marks a notable evolution for the company, which is now diversifying its revenue streams beyond staking.

The acquisition, completed on June 1, 2026, for $18 million USD, has proven beneficial as Houdini Swap generated around $740,000 CAD in EBITDA during its first month under SOL Strategies, reflecting a 63% EBITDA margin. The trading volume for Houdini in June was approximately $92 million CAD, spread across 34,427 orders, indicating a smooth transition post-acquisition.

Prior to the acquisition, Houdini Swap had accumulated a cumulative trading volume exceeding $2.5 to $2.7 billion and generated about $13 million USD in revenue throughout 2025. CEO Michael Hubbard highlighted that this acquisition allows SOL Strategies to diversify its revenue without utilizing its treasury SOL holdings.

In contrast, the company’s staking and validation revenue saw a decline of 6% in Q2 2026, with SOL Strategies currently holding around 524,000 SOL. Despite this, assets under delegation increased to between 3.468 million and 3.55 million SOL, and the company reported 100% uptime across its proprietary validators.

Following the acquisition, Jon Matonis has been appointed as the board chairman, signaling a strategic shift in leadership as SOL Strategies continues to expand its operations.