Fitell's $100M Solana Bet Aims to Redefine DeFi's Yield Frontier

Fitell Corporation (NASDAQ: FTEL) has secured a $100 million convertible note facility to launch Australia’s inaugural Solana (SOL)-based digital asset treasury, positioning the company to become the region’s largest publicly listed holder of the cryptocurrencyFitell Corporation Launches Solana (SOL) Digital Asset Treasury with $100M Financing^[1]. The initiative, which includes an immediate $10 million allocation for SOL purchases, aims to generate yield through diversified on-chain decentralized finance (DeFi) strategies, including structured products, liquidity provisioning, and options tradingFitell Corporation Targets Solana Leadership with $100M Digital Asset Treasury Launch^[2]. Fitell’s treasury will be custodied by BitGo Trust Company and staked via institutional-grade infrastructure, with returns reinvested to compound SOL accumulationFitell Corporation Secures $100M for Solana-Based Treasury Launch^[3].

The company has appointed David Swaney and Cailen Sullivan as advisors to optimize treasury performance. Swaney, an institutional DeFi strategist since 2017, and Sullivan, a co-founder of Solana-based perpetuals exchange Adrena, emphasize leveraging yield innovation beyond traditional staking to align with the Solana ecosystemFitell Corporation Launches Solana (SOL) Digital Asset Treasury with $100M Financing^[1]. Their roadmap includes deploying assets across native projects to generate outsized returns while supporting DeFi growthFitell Corporation Targets Solana Leadership with $100M Digital Asset Treasury Launch^[2]. The advisors noted that strategic capital concentration in the Solana network could rival larger treasuries in value creation, despite varying scalesFitell Corporation Secures $100M for Solana-Based Treasury Launch^[3].

Fitell’s dual listing on the Australian Securities Exchange (ASX) is underway, expanding regional access to SOL for investors. The company also plans to rebrand as “Solana Australia Corporation” to reflect its focus on the blockchain ecosystemFitell Corporation Launches Solana (SOL) Digital Asset Treasury with $100M Financing^[1]. CEO Sam Lu highlighted the move as a strategic commitment to Solana’s long-term potential, combining innovation, yield generation, and risk managementFitell Corporation Targets Solana Leadership with $100M Digital Asset Treasury Launch^[2]. The treasury’s initial $10 million allocation marks the first phase of a broader capital deployment strategy, with remaining funds directed toward structured yield opportunitiesFitell Corporation Secures $100M for Solana-Based Treasury Launch^[3].

The $100 million facility, secured from a U.S.-based institutional investor, is structured as a convertible note, with Rodman & Renshaw acting as the exclusive placement agentFitell Corporation Launches Solana (SOL) Digital Asset Treasury with $100M Financing^[1]. Fitell’s approach to Solana integration includes on-chain liquidity provisioning and derivatives strategies to strengthen its position in the ecosystemFitell Corporation Targets Solana Leadership with $100M Digital Asset Treasury Launch^[2]. The company’s forward-looking statements, including projections of growth and strategic milestones, are subject to risks and uncertainties, as outlined in its SEC filingsFitell Corporation Secures $100M for Solana-Based Treasury Launch^[3].

An upcoming live session at 4:00 p.m. ET on September 23, 2025, will provide further details on the treasury’s execution planFitell Corporation Launches Solana (SOL) Digital Asset Treasury with $100M Financing^[1]. Fitell’s dual listing and rebranding are expected to enhance its alignment with Solana’s ecosystem, while its institutional-grade security framework underscores its commitment to managing digital assetsFitell Corporation Targets Solana Leadership with $100M Digital Asset Treasury Launch^[2]. The initiative reflects a broader trend of institutional adoption in DeFi, with Fitell aiming to set a benchmark for performance and innovation in digital asset managementFitell Corporation Secures $100M for Solana-Based Treasury Launch^[3].