TLDR
- BIT Mining nearly doubled its Solana holdings to 44,000 SOL tokens after purchasing 17,221 SOL, with treasury now worth $9.9 million
- Upexi increased its SOL holdings by 18,000 tokens to over 2 million total, with treasury valued at $456 million and earning $105,000 daily in staking rewards
- Solana treasury companies now hold at least 4.67 million SOL tokens combined as institutional interest grows
- SOL is trading around $226, up 1.2% and approaching its all-time high of $293 set in 2021
- Both companies are part of growing trend of digital asset treasuries offering leveraged crypto exposure through public stock markets
Two major companies have expanded their Solana treasuries this week as corporate adoption of SOL continues to accelerate. BIT Mining and Upexi both reported large purchases that bring total corporate Solana holdings to new highs.
BIT Mining announced it nearly doubled its SOL position by purchasing 17,221 tokens. The company now holds 44,000 SOL worth approximately $9.9 million at current prices. Chairman and COO Bo Yu said the purchase strengthens the company’s position in the Solana ecosystem.
🚨JUST IN: Solana treasury company @BITMining_BTCM (NYSE: BTCM) has added 17,221 $SOL to its holdings, bringing its treasury to over 44,000 $SOL worth about $9.95M. pic.twitter.com/6xCe2C101y
— SolanaFloor (@SolanaFloor) September 11, 2025
The firm operates in-house validators to help secure the Solana network. BIT Mining plans to continue running these validators as part of its strategy. The company trades on NYSE under ticker BTCM and will soon rebrand as SOLAI Limited.
Upexi made an even larger purchase, adding nearly 18,000 SOL tokens to its treasury. The company now holds over 2 million SOL worth more than $456 million. This represents one of the largest corporate Solana positions among public companies.
$UPXI Upexi treasury update:
– Holds 2,018,419 $SOL
– SOL holding valued at $447M
– Unrealized gains of $142M
– SOL per share is 0.0197
– Earns $105k from daily staking
– 53% SOL is locked
– mNAV is 0.7x and fully loaded mNAV is 1.2x pic.twitter.com/bvOvvI218T— Bart (@alwaysbetmore) September 11, 2025
The supply chain company shifted focus to Solana treasury management in April. Since then, it has completed three capital raises to fund SOL purchases. Upexi bought most of its holdings at an average price of $151 per token, creating unrealized gains of $142 million.
Upexi stakes its entire SOL position to earn additional income. The company reports earning approximately $105,000 daily from staking rewards. This provides an annual yield of around 8% on its staked tokens.
The firm created a new metric called “adjusted SOL per share” to track performance. This accounts for capital raises, staking income, and discounted token purchases. Upexi’s adjusted SOL per share stands at $4.37, up 126% since April.
Growing Corporate Adoption
Both companies represent a broader trend of digital asset treasuries or DATs. These firms buy crypto through stock or debt sales, offering investors leveraged exposure to digital assets. The strategy mirrors how companies traditionally hold cash reserves.
Solana treasury companies now hold at least 4.67 million SOL tokens combined. This represents about 1.2% of Solana’s total supply. The holdings are valued at approximately $1.4 billion at current prices.
Several other companies have announced plans for major Solana treasuries. Galaxy Digital, Jump Crypto, and Multicoin Capital are raising $1 billion for a new Solana-focused vehicle. Forward Industries completed a $1.65 billion private placement to fund SOL purchases.
SOL Strategies became the first Solana-focused company to list on Nasdaq this week. The firm manages 3.62 million SOL under delegation and holds 402,623 SOL in its treasury. Trading began September 10 under ticker STKE.
Market Performance
SOL is trading around $226, up 1.2% on Thursday. The token has gained over 6% this week and continues moving toward its all-time high of $293. Current prices give Solana a market cap of approximately $106 billion.
Both treasury companies saw their stock prices rise following the announcements. Upexi gained over 5% to $5.76, giving it a market cap of $291 million. BIT Mining rose over 6% to $2.94 with a $48 million market cap.
BIT Mining has also launched DOLAI, a dollar-denominated stablecoin on Solana. The company partnered with Brale Inc. to create the AI-focused stablecoin. This adds another revenue stream beyond staking and treasury appreciation.
Recent Treasury Activity
DeFi Development Corp added 196,141 SOL to its balance sheet on September 5. The company spent $39.76 million at an average price of $202.76 per token. This brought its total holdings above 2 million SOL valued at $412 million.
