TLDR
- BIT Mining nearly doubled SOL holdings to 44,000 tokens after a 17,221 SOL purchase.
- Upexi increased its Solana stockpile by 18,000 tokens, totaling over 2 million SOL.
- Solana treasuries now hold at least 4.67 million SOL, giving investors leveraged crypto exposure.
- BIT Mining’s treasury is valued at $9.9 million while Upexi’s SOL holdings reach $456 million.
Solana treasury companies are actively increasing their token positions as SOL prices rise. BIT Mining and Upexi reported substantial acquisitions, signaling continued interest from corporate treasuries in digital assets. The activity reflects growing engagement in the market for Solana among publicly listed firms.
BIT Mining (NYSE: BTCM) almost doubled its SOL holdings by adding 17,221 tokens, bringing its total to 44,000. Meanwhile, Nasdaq-listed Upexi (UPXI) increased its stockpile by nearly 18,000 tokens, exceeding 2 million SOL. The combined activity contributes to at least 4.67 million SOL held across Solana treasury companies, according to data from The Block.
SOL Price Movement and Market Performance
Solana traded near $226 at press time, representing a 1.2% increase. The token is approaching its previous all-time high above $293, reflecting broader bullish sentiment in the market.
The value of Upexi’s crypto treasury now exceeds $456 million, while BIT Mining’s SOL holdings are worth about $9.9 million.
BIT Mining will soon change its name to SOLAI Limited, reflecting its growing focus on Solana and crypto treasury management. Its stock rose more than 6% to $2.94, giving the company a market capitalization of $48 million. Upexi shares gained over 5%, reaching $5.76 and a market capitalization of $291 million.
Rise of Digital Asset Treasuries
Both firms are part of the growing sector of digital asset treasuries, or DATs. These companies acquire crypto assets through public or private offerings of stock or debt. DATs allow investors to gain indirect exposure to crypto markets, similar to mutual funds or exchange-traded funds.
Net asset value per share is calculated using total assets minus liabilities, divided by outstanding shares, providing transparency to investors.
Investors increasingly view DATs as a structured way to access crypto exposure while maintaining a regulatory framework. These corporate treasuries often combine traditional capital market structures with digital asset holdings. As a result, price movements in SOL and other tokens can influence the market valuation of these firms.
Corporate Strategy and Market Signals
The accumulation of Solana tokens by BIT Mining and Upexi indicates confidence in SOL’s potential and growing adoption among treasury managers. Executives from both companies have pointed to long-term holding strategies as a way to maximize shareholder value while navigating crypto volatility.
“We see SOL as a core component of our treasury strategy,” said a Upexi spokesperson, noting the company’s focus on market exposure.
Analysts observe that corporate treasury activity in digital assets provides signals to the broader market, often influencing sentiment among retail and institutional investors. By steadily increasing SOL holdings, these companies reinforce their positioning within the growing ecosystem of crypto-backed treasuries.
