SOL Strategies Acquires HoudiniSwap for $18M to Expand Solana Infrastructure

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SOL Strategies has acquired HoudiniSwap for $18 million, a move that brings on-chain news to the forefront of Solana infrastructure expansion. HoudiniSwap, a cross-chain swap aggregator with a focus on privacy, reported $13 million in 2025 revenue, with over half of its volume on Solana. The platform has processed more than $2.5 billion in blockchain news-related transactions across 100+ networks. The deal includes $8.25 million in cash, $5.75 million in a six-month note, $4 million in shares, and a $100,000 warrant. An additional $10 million is tied to EBITDA performance. This follows the April acquisition of Darklake Labs, which added zero-knowledge tools to the Solana platform.

SOL Strategies agreed to acquire HoudiniSwap for $18 million, adding a privacy focused cross chain swap aggregator as the public company expands its Solana infrastructure strategy beyond staking.

HoudiniSwap generated about $13 million in revenue in 2025, with more than half of its trailing 12-month volume touching Solana. The platform has processed over $2.5 billion in cumulative transaction volume across more than 100 blockchain networks, while integrating with more than 18 decentralized exchanges and several self custodial wallet providers.

The acquisition gives SOL Strategies a transaction routing business that helps users find swap routes across centralized exchanges, decentralized exchanges, and bridges without taking custody of funds.

SOL Strategies said the deal is part of a broader push to build Solana into a foundation for institutional finance by adding cross chain liquidity, transaction infrastructure, and software based revenue.

The purchase price includes $8.25 million in cash, a $5.75 million six month promissory note, $4 million in company shares, and $100,000 in common share purchase warrants. The deal also includes a two year earnout of up to $10 million based on a $2.5 million annual EBITDA hurdle. SOL Strategies said it does not plan to sell any of its Solana treasury assets to fund the acquisition.

The deal follows SOL Strategies’ April acquisition of Darklake Labs, which brought zero knowledge privacy technology and the Zyga system into its Solana platform. The company said at the time that the acquisition added technology focused on privacy and execution integrity, including tools designed to reduce risks such as front running and transaction manipulation.

SOL Strategies has positioned itself as a public company focused on Solana validator infrastructure, treasury solutions, and institutional digital asset products. Its website describes the company as building institutional grade Solana validator infrastructure and digital asset treasury solutions, while noting that it is independent of the Solana Foundation.

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