TL;DR
- Bit Mining and Upexi have significantly increased their Solana holdings, with Bit Mining launching a validator to capitalize on staking rewards.
- Upexi has crossed 2 million SOL in its treasury, earning substantial daily yield.
- The growing interest in Solana from public companies signals a clear trend of strategic accumulation, driven by staking returns and long-term ecosystem participation.
A new wave of institutional attention has centered on Solana, as several public companies made substantial purchases of the token in recent weeks. Among them, Bit Mining and Upexi stood out with high-volume acquisitions and a clear strategy to capitalize on staking rewards.
Bit Mining, a publicly traded Bitcoin mining firm, disclosed its first Solana purchase this Tuesday, 27,191 SOL for $4.5 million. More importantly, the company launched a validator, indicating a transition from passive holding to active participation in the Solana blockchain. The move underscores a growing interest in Solana’s yield-generating model and hints at broader infrastructure plans.
Meanwhile, Upexi, a company traditionally focused on supply chain management, made a bold pivot into digital assets by expanding its Solana position from just over 735,000 to more than 2 million tokens in July alone. CEO Allan Marshall stated that this strategic accumulation is already yielding results. Most of their tokens are staked, reportedly earning 8% annually, translating into roughly $65,000 per day in revenue.
Solana Adoption Accelerates Among Public Firms
The rising involvement of corporate players like Upexi and Bit Mining reflects a broader momentum. DeFi Development Corp, another public firm, also ramped up its holdings to over 1.2 million SOL and confirmed it’s staking its assets with multiple validators. CoinGecko data reveals that the top four Solana-holding public companies now control more than 3.5 million tokens.
This shift is not accidental. According to a report from BitGo, firms are deliberately opting for Solana exposure to benefit from its high-yield staking system and to distinguish themselves in a crowded digital asset landscape increasingly dominated by Bitcoin.
Strategic Capital Deployment Into Staking Infrastructure
Bit Mining isn’t stopping at one purchase. In July, the company announced plans to raise up to $300 million to build out a dedicated Solana treasury. Chairman Bo Yu emphasized that this move is about more than just financial returns—it’s a strategic investment in the blockchain’s decentralization and long-term scalability.
As competition grows and returns from traditional markets tighten, the entry of public companies into Solana may signal a structural shift in how corporate treasuries view digital assets.
