COINOTAG News reported that on October 24, Solmate Infrastructure (SLMT), a US-listed company, saw its share price jump 40% to $11.70, expanding its market capitalization to roughly $754 million.

Ahead of that move, SLMT disclosed progress on validators, merger plans, and PIPE financing; the company selected a data center to host its bare-metal validator, positioning it as the first high-performance Solana node in the Middle East.

Earlier, the firm, previously known as Brera Holdings, rebranded to Solmate and pivoted to a Solana-based Decentralized Autonomous Treasury (DAT) model. Notable investors, including the Solana Foundation and ARK Invest of Cathie Wood, participated in a $300 million PIPE financing. In the prior week, Solmate secured a $50 million discounted SOL allocation from the Solana Foundation to bolster its infrastructure in the UAE.