⏰ Act Early, Profit Big!
Be among the first to access the newest altcoins. Don't miss out, click now!

Public Companies Increasing Solana Holdings Amid Growing Interest in Staking Rewards


  • Bit Mining purchased 27,191 SOL worth $4.5 million to stake and earn yield.

  • Upexi increased its holdings from 735,692 to over 2 million SOL in July.

  • DeFi Development Corp now holds over 1.2 million SOL after acquiring 110,466 tokens.

Public companies are increasingly investing in Solana to earn staking rewards, with notable purchases made by Bit Mining, Upexi, and DeFi Development Corp.

Company SOL Holdings Investment Value
Bit Mining 27,191 SOL $4.5 million
Upexi 2 million SOL Not disclosed
DeFi Development Corp 1.2 million SOL Not disclosed

What is Driving Public Companies to Buy Solana?

Public companies are increasingly purchasing Solana (SOL) to take advantage of staking rewards. This trend reflects a broader interest in blockchain technologies and digital assets among institutional investors.

How Are Companies Utilizing Their Solana Holdings?

Companies like Bit Mining and Upexi are staking their SOL holdings to earn rewards. For instance, Upexi has reported earning an 8% yield, generating approximately $65,000 daily in revenue.


Frequently Asked Questions

What are the benefits of staking Solana?

Staking Solana allows companies to earn rewards for validating transactions, enhancing their investment returns while supporting the network.

How does Solana compare to other cryptocurrencies?

Solana offers faster transaction speeds and lower fees compared to many other cryptocurrencies, making it an attractive option for institutional investors.


Key Takeaways

  • Growing Interest: Public companies are increasingly investing in Solana for staking rewards.
  • Strategic Moves: Firms like Bit Mining and Upexi are expanding their presence in the Solana ecosystem.
  • Revenue Generation: Staking SOL can yield significant daily returns for companies.

Conclusion

The recent surge in Solana purchases by public companies underscores a strategic shift towards blockchain investments. As firms look to enhance their portfolios with digital assets, Solana’s staking rewards present a compelling opportunity for growth and revenue generation.


  • Three public companies have increased their Solana holdings this week, as BitGo speculates firms are buying Solana to stake it and earn rewards.

  • Public companies are scooping up Solana to get a slice of the blockchain’s staking rewards, with three firms recently sharing they’ve purchased more of the token.

  • Bitcoin mining firm Bit Mining said on Tuesday that it made its first Solana (SOL) buy, purchasing 27,191 SOL worth $4.5 million, and launched a validator to earn yield by staking the tokens.

Meanwhile on Tuesday, Upexi, a brand owner specializing in supply chain management, said it spent most of July buying Solana and increasing its holdings from 735,692 tokens at the end of June to over 2 million SOL.

On Monday, DeFi Development Corp said it increased its crypto holdings to over 1.2 million SOL, having bought up another 110,466 tokens.

01987e11 3764 7ece acca dcbfef23422f
Source: DeFi Development Corp

CoinGecko said on Tuesday that the recent buys highlight “a growing trend of Solana exposure among public firms,” with the top four Solana-holding companies controlling over 3.5 million tokens worth more than $591.1 million, representing nearly 0.65% of the SOL’s circulating supply.

Long-term staking plans

DeFi Development Corp said after its latest purchase that it would stake its SOL holdings with various validators, where those who lock SOL tokens up to validate transactions on the blockchain are given more SOL as a reward.

The company, formerly called Janover, was mainly a real estate financing company that used an artificial intelligence-powered online platform to connect lenders and commercial property buyers.

The firm made its first SOL purchase of 2,858 tokens on April 8 after being acquired by former executives from the crypto exchange Kraken.

Meanwhile, Upexi CEO Allan Marshall said that July “was a game-changing month” for the company after raising over $200 million for additional SOL purchases and increasing its holdings to over two million tokens.

01987e11 3bce 70aa 8199 0f111749491e
Source: Allan Marshall

The firm also staked most of its SOL, which Marshall said saw it earn an 8% yield and pocket $65,000 a day in revenue.

Bit Mining to expand into Solana ecosystem

Bit Mining chairman and chief operating officer Bo Yu said the company’s first self-operated validator marks the beginning of a broader effort to build a presence across the Solana ecosystem.

“It demonstrates our belief in Solana’s potential and our commitment to building meaningful infrastructure that supports its growth, security, and decentralization,” Yu added.

Bit Mining announced on July 10 that it was making a strategic shift into the Solana ecosystem, with plans to raise up to $300 million to build a Solana token treasury.

Staking yield primary catalyst for purchases

In a June 18 report, crypto firm BitGo speculated that a growing number of companies are adding Solana to their treasuries specifically for the staking rewards and to stand out after a flood of other firms adopted Bitcoin (BTC).

“Bitcoin integration into corporate balance sheets challenged traditional treasury thinking, signaling digital assets’ transition into a legitimate institutional asset class,” BitGo said.

“Companies adopting Solana gain exposure to reward-generating digital assets, align strategically with emerging blockchain infrastructure, and differentiate themselves in the marketplace.”

Upexi currently leads the Solana treasury race, according to CoinGecko, with DeFi Development Corp in second, and SOL Strategies, a Canadian public company focused on Solana infrastructure, rounding out the top three.

Magazine: Solana ‘will be a trillion-dollar asset’: Mert Mumtaz, X Hall of Flame

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

21SHARES FILES AMENDED S-1 FOR POLKADOT TRUST

21SHARES FILES AMENDED S-1 FOR POLKADOT TRUST $DOT #Polkadot

METAMASK TO INTRODUCE METAMASK USD STABLECOIN ISSUED BY STRIPE: GOV PROPOSAL

METAMASK TO INTRODUCE METAMASK USD STABLECOIN ISSUED BY STRIPE:...

COINBASE PERP: Coinbase Perp will list Succinct (PROVE)

COINBASE PERP: Coinbase Perp will list Succinct (PROVE)

COINBASE PERP: Coinbase Perp will list Towns (TOWNS)

COINBASE PERP: Coinbase Perp will list Towns (TOWNS)

SEC RELEASES STATEMENT ON LIQUID STAKING ACTIVITIES

SEC RELEASES STATEMENT ON LIQUID STAKING ACTIVITIES LIQUID STAKING ACTIVITIES...

Hyperliquid Captures 35% of Blockchain Revenue in July Amid Solana’s Struggles

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Altcoin Season Index Reaches 51: Could Ethereum and Solana Lead a Shift from Bitcoin Dominance?

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Tom Lee Suggests Bitcoin Could Reach $250,000 by 2025 Amid Mixed Analyst Sentiments

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

Indonesia Explores Bitcoin as a National Reserve Strategy Amid Economic Growth Discussions

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...

CZ Challenges FTX’s $1.76 Billion Clawback Lawsuit, Citing Jurisdictional Issues in U.S. Bankruptcy Court

{ "@context": "https://schema.org", "@type": "NewsArticle", "headline":...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img