Solana treasury race heats up as firms hunt staking rewards

2025-08-06 15:00:18 Primitive Reading

Public companies are scooping up Solana to get a slice of the blockchain’s staking rewards, with three firms recently sharing they’ve purchased more of the token.

Bitcoin mining firm Bit Mining said on Tuesday that it made its first Solana

SOL$163.81buy, purchasing 27,191 SOL worth $4.5 million, and launched a validator to earn yield by staking the tokens.

Meanwhile on Tuesday, Upexi, a brand owner specializing in supply chain management, said it spent most of July buying Solana and increasing its holdings from 735,692 tokens at the end of June to over 2 million SOL.

On Monday, DeFi Development Corp said it increased its crypto holdings to over 1.2 million SOL, having bought up another 110,466 tokens.

CoinGecko said on Tuesday that the recent buys highlight “a growing trend of Solana exposure among public firms,” with the top four Solana-holding companies controlling over 3.5 million tokens worth more than $591.1 million, representing nearly 0.65% of the SOL’s circulating supply.

Long-term staking plans

DeFi Development Corp said after its latest purchase that it would stake its SOL holdings with various validators, where those who lock SOL tokens up to validate transactions on the blockchain are given more SOL as a reward.

The company, formerly called Janover, was mainly a real estate financing company that used an artificial intelligence-powered online platform to connect lenders and commercial property buyers.

The firm made its first SOL purchase of 2,858 tokens on April 8 after being acquired by former executives from the crypto exchange Kraken.

Meanwhile, Upexi CEO Allan Marshall said that July “was a game-changing month” for the company after raising over $200 million for additional SOL purchases and increasing its holdings to over two million tokens.

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