Public Companies Increase Solana Holdings Amid Staking Rewards Surge

Major public firms are intensifying their acquisition of Solana (SOL) tokens, primarily driven by the potential to earn significant staking yields in a market saturated with Bitcoin corporate holdings.

Recent Acquisitions

Financial and business enterprises have recently bolstered their SOL reserves:

• Bit Mining: The Bitcoin miner announced a strategic shift on July 10, investing up to $300 million in Solana via a token treasury, citing belief in its ecosystem potential.
• Upexi: This supply chain management company increased its SOL holdings significantly in July, topping out above 2 million tokens, acquired largely through a $200 million funding round.
• DeFi Development Corp. (formerly Janover): Acquired another 110,466 SOL tokens, bringing its total holdings to over 1.2 million, following a previous purchase on April 8 post-acquisition by former Kraken executives.

Market Impact

According to CoinGecko, these corporate purchases mark a “growing trend of Solana exposure among public firms,” consolidating SOL holdings in the top four companies controlling over 3.5 million tokens, valued at approximately $591 million – roughly 0.65% of the circulating supply.

Pursuing Staking Yields

Companies like Upexi and DeFi Development Corp. have explicitly linked acquisitions to staking rewards. Upexi CEO Allan Marshall termed July “a game-changing month,” highlighting the 8% yield generated (valued at ~$65k daily). Bit Mining aims to expand its validator infrastructure to solidify its position within Solana’s ecosystem, as per Chairman COO Yu Bo.

Strategic Shift

Following Bitcoin’s corporate integration (which BitGo noted challenged traditional treasury thinking), firms are diversifying into next-gen infrastructure. Solana’s staking yield presents a key motivation, enabling companies to generate revenue and position themselves advantageously alongside competitors.