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Key Takeaways:
- Public companies now hold over $591M in Solana, aiming to earn staking yields.
- Upexi, Bit Mining, and DeFi Development are leading with aggressive SOL purchases.
- SOL’s 8% staking reward is a key incentive, offering daily passive income potential.
Publicly traded companies are ramping up Solana purchases as part of a broader push to capitalize on staking rewards and gain a foothold in Web3 infrastructure. Recent disclosures from Bit Mining, Upexi, and DeFi Development Corp. show a growing corporate appetite for SOL, turning the token into a serious contender in corporate treasury strategies.
Bit Mining Enters Solana With Validator Launch
Bitcoin miner Bit Mining announced it had bought 27,191 SOL for $4.5 million—its first-ever Solana purchase. The firm also launched its own validator, signaling a deeper commitment to Solana’s ecosystem. Bit Mining COO Bo Yu said the validator marks the beginning of broader plans to expand its Solana presence, backed by a $300 million fundraising goal to build a SOL token treasury.
Upexi and DeFi Development Corp. Grow SOL Holdings
Upexi, a supply chain-focused brand management firm, has emerged as the largest public SOL holder. The company increased its holdings from 735,692 SOL to over 2 million during July alone, earning about $65,000 per day in staking revenue at an 8% yield. CEO Allan Marshall called July a “game-changing month,” after raising $200 million to continue expanding its position.
DeFi Development Corp., formerly a real estate financing company, grew its holdings to 1.2 million SOL, up from 2,858 tokens in April. Like others, it is staking its SOL to generate yield, highlighting a strategic shift post-acquisition by former Kraken executives.
Solana’s Staking Yields Drive Treasury Strategy Shift
According to BitGo, Solana’s 8% staking yield is the main incentive behind the corporate interest. Unlike Bitcoin, which has become commonplace on corporate balance sheets, SOL offers yield-generating potential, helping companies not only diversify but also earn passive income. CoinGecko reports that the top four SOL-holding firms now control over 3.5 million tokens, worth $591 million—0.65% of total circulating supply.
The move by public companies into Solana signals a maturing view of crypto in corporate finance. With staking yields, ecosystem expansion, and treasury diversification at the core, Solana is no longer just a blockchain—it’s becoming an institutional-grade asset.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Pump.fun Revenue Plunges 80% as LetsBonk Dominates Solana Memecoin Market
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