Solana News Today: Public companies boost Solana staking as yields drive treasury strategy shifts

Public companies are increasingly acquiring Solana (SOL) tokens to participate in the blockchain’s staking rewards, with several firms recently disclosing significant purchases. Bit Mining, a Bitcoin mining firm, announced its first Solana buy of 27,191 tokens, valued at $4.5 million, and launched a validator to earn yield from staking. Meanwhile, Upexi, a supply chain-focused firm, increased its Solana holdings from 735,692 tokens in June to over 2 million tokens by July. DeFi Development Corp also reported an expansion of its Solana holdings to over 1.2 million tokens after acquiring an additional 110,466 tokens [1].

According to CoinGecko, the recent buying activity reflects a growing trend of Solana exposure among public companies. The top four Solana-holding firms collectively control over 3.5 million tokens, representing more than $591.1 million in value, or nearly 0.65% of the circulating SOL supply. These companies are not only holding the tokens but also staking them to generate returns through the Solana network’s validator system [1].

DeFi Development Corp, formerly known as Janover, has committed to staking its entire SOL portfolio with various validators. The company previously made its first purchase of 2,858 tokens on April 8 after being acquired by former Kraken executives. Upexi CEO Allan Marshall described July as a “game-changing month,” noting that the firm raised over $200 million to further expand its Solana treasury. Marshall also revealed that the company earns an 8% yield on its staked SOL, generating approximately $65,000 in daily revenue [1].

Bit Mining’s chairman and COO Bo Yu emphasized the strategic importance of entering the Solana ecosystem, stating that the move reflects the company’s belief in Solana’s potential and its commitment to supporting the network’s growth and security. The firm announced a $300 million funding plan to build a Solana token treasury and expand its presence in the blockchain space [1].

The primary driver of these corporate Solana purchases is the staking yield. According to a June 18 report from BitGo, an increasing number of companies are adding Solana to their treasuries specifically for the high returns offered by staking. This trend is partly a response to the widespread adoption of Bitcoin by institutional investors, which has redefined traditional treasury management and validated digital assets as a legitimate asset class. BitGo noted that companies adopting Solana benefit from exposure to reward-generating assets while aligning with emerging blockchain infrastructure and distinguishing themselves in the market [1].

The competitive landscape has intensified, with Upexi currently leading the Solana treasury race, followed by DeFi Development Corp and SOL Strategies, a Canadian public company focused on Solana infrastructure. As more firms allocate capital to staking, the increased liquidity is helping stabilize the price of SOL, reducing its typical volatility. The growing institutional interest is also reshaping corporate crypto strategies, moving beyond mere asset ownership to active staking and yield generation [1].

Participants in the Solana staking race are advised to remain cautious as market conditions evolve rapidly. While the high-yield opportunities are attractive, they also carry risks associated with fast-paced capital allocation and network volatility. As the ecosystem matures, firms are expected to continue optimizing their crypto treasuries through strategic staking initiatives [1].

Sources:

[1] Solana treasury race heats up as firms hunt staking rewards – [https://cointelegraph.com/news/crypto-treasury-companies-buying-solana-staking-rewards](https://cointelegraph.com/news/crypto-treasury-companies-buying-solana-staking-rewards)