AUSTRALIA’S FITELL CORP BETS ON PUMPFUN WITH 216M TOKEN BUY- Fitell Corporation, an Australian fitness firm, has acquired 216.8 million PUMP tokens worth $1.5 million.- The purchase announced October 2 is the first direct step in the company's treasury strategy.- CEO Sam Lu said the buy reflects a commitment to “deepen participation in Solana’s growth story” while diversifying Fitell’s balance sheet.- The company has also begun the process of rebranding as Solana Australia Corporation.- The $PUMP acquisitio ...

Core Insights - Fitell Corporation has secured a $100 million credit line to implement its new Solana treasury strategy and plans to rebrand as 'Solana Australia Corporation' [1] - The company aims to become Australia's first Nasdaq-listed institutional holder of Solana, generating returns through staking, DeFi opportunities, and yield innovations [1][2] Company Strategy - The Solana treasury strategy includes structured products such as options, snowballs, and on-chain liquidity provisioning, focusing on managed downside risk [2] - Fitell has appointed David Swaney and Cailen Sullivan as advisors to guide its digital asset treasury roadmap, leveraging their extensive experience in the digital asset sector [2][3] Leadership Statements - Sam Lu, CEO of Fitell, emphasized that the launch of the Solana digital asset treasury positions the company at the forefront of Solana adoption in Australia and the Asia Pacific region, aiming to be the largest publicly listed Solana holder [4] Market Expansion - Fitell is pursuing a dual listing on the Australian Securities Exchange (ASX) to enhance access and exposure for regional investors to SOL, with initial SOL assets to be held with BitGo Trust Company, Inc. in the U.S. [5] Industry Trends - Institutional interest in Solana is growing, with total reserves of Solana treasury companies reaching 13.44 million SOL (approximately $2.86 billion) [6] - Brera Holdings recently completed a $300 million PIPE to purchase SOL for its digital asset treasury, indicating strong institutional demand [6]

RT BSCN (@BSCNews)FORWARD INDUSTRIES SECURES $1.65B FOR SOLANA TREASURY STRATEGY- Forward Industries completed a $1.65 billion private funding round, solidifying itself as a major institutional player in the Solana ecosystem.- The financing mix included cash and stablecoins and was backed by leading firms such as Galaxy Digital, Jump Crypto, and Multicoin Capital.Strategic Shift Toward Solana:- The Nasdaq-listed company plans to allocate the proceeds toward building the largest corporate Solana treasury to ...

FORWARD INDUSTRIES SECURES $1.65B FOR SOLANA TREASURY STRATEGY- Forward Industries completed a $1.65 billion private funding round, solidifying itself as a major institutional player in the Solana ecosystem.- The financing mix included cash and stablecoins and was backed by leading firms such as Galaxy Digital, Jump Crypto, and Multicoin Capital.Strategic Shift Toward Solana:- The Nasdaq-listed company plans to allocate the proceeds toward building the largest corporate Solana treasury to date.- The strateg ...

Solana treasury firms are rapidly expanding their holdings, with total reserves climbing to 6.49 million SOL, as institutional interest in the network shows no signs of slowing. The latest disclosures from BIT Mining Limited and Upexi Inc. show the growing momentum behind corporate Solana treasuries, reflecting both long-term conviction and short-term gains from the token’s price rally. Corporate Bets on Solana Grow as Treasury Gains and Staking Income Accelerate BIT Mining Limited, a cryptocurrency inf ...

Solana Treasury Strategy - Upexi expands into crypto, focusing exclusively on Solana, with a treasury valued at $121 million as of May 28 [6] - The company raised $100 million in a private placement to bootstrap its Solana treasury strategy [6, 27] - Upexi estimates $7 million in annual staking revenue from staked SOL [6] - Upexi purchased $44 million of discounted locked SOL [6] - The company's treasury consists of 679,677 SOL, with 58% locked and 42% spot [38] Capital Markets & Valuation - Upexi leverages capital markets strategies, including a recent $100 million private placement, to maximize value [18, 20] - The company targets additional large-scale, accretive capital raises to acquire more Solana [21, 27] - Upexi aims to issue equity in an accretive fashion and is considering convertible debt at attractive terms [22] - Staking yields are consistently 7-9%, and buying discounted locked SOL effectively doubles the staking yield [28, 38] Solana & Crypto Thesis - Solana is positioned as a leading blockchain with ultra-cheap transactions and a bustling ecosystem [17] - The company believes Solana has high upside potential, with a market cap only 4% of Bitcoin's [28, 51]