Public companies are increasingly purchasing Solana (SOL) tokens to access the blockchain's staking rewards, driven by a surge in interest from firms aiming to enhance their crypto treasuries. Recently, Bitcoin mining firm Bit Mining acquired 27,191 SOL for $4.5 million, launching a validator to earn staking yields. Meanwhile, Upexi has significantly ramped up its holdings from 735,692 SOL in June to over 2 million by July, alongside generating $65,000 daily from staking yields. DeFi Development Corp has also bolstered its portfolio to over 1.2 million SOL, stating plans to stake its accrued tokens for additional rewards. The trend is underscored by a report from BitGo, indicating that institutional embrace of digital assets like SOL signals a shift in corporate treasury strategies. Upexi leads in SOL acquisitions, followed by DeFi Development Corp and another Canadian company focused on Solana infrastructure. Firms recognize the yield potential of staking SOL as a motivator for adding the asset to their balance sheets, contributing to a robust appetite for Solana exposure amid evolving market dynamics.

Source 🔗