September 12, 2025 – Solana’s corporate treasury momentum continues to accelerate, with combined holdings now reaching 6.49 million SOL, according to the latest disclosures. The growth highlights rising institutional conviction in Solana’s ecosystem as firms seek both long-term appreciation and staking income.
BIT Mining Expands Solana Position
BIT Mining Limited—soon to rebrand as SOLAI Limited—announced the purchase of 17,221 SOL, lifting its total treasury above 44,000 SOL worth roughly $9.95 million.
Chairman and COO Bo Yu said the company views validator operations and staking rewards as essential to its long-term strategy, while confirming plans to move away from legacy Bitcoin, Litecoin, Dogecoin, and Ethereum Classic mining.
BIT Mining also launched DOLAI, a Solana-based stablecoin created with Brale Inc., aimed at bridging AI applications, consumer payments, and institutional finance.
Upexi Becomes a Major Solana Holder
Upexi Inc., which pivoted earlier this year to a Solana-focused treasury model, has accumulated 2,018,419 SOL valued at $447 million. The strategy has generated $142 million in unrealized gains, with most of its tokens staked to capture around 8% annual yield.
That translates into $105,000 in daily staking rewards. Upexi also introduced an “adjusted SOL per share” metric to measure treasury growth, which stood at 0.0197 SOL ($4.37) as of September 10—up 56% in SOL terms and 126% in dollar terms since the program launched.
CEO Allan Marshall described recent weeks as “extremely strong,” while CSO Brian Rudick credited disciplined execution, including three successful capital issuances. Upexi has also formed an advisory board with Arthur Hayes, former BitMEX CEO, joining as its first member.
Institutional Interest Builds Around Solana
Momentum extends beyond individual firms. In late August, Galaxy Digital, Jump Crypto, and Multicoin Capital began talks to raise $1 billion for a Solana treasury vehicle advised by Cantor Fitzgerald.
Other notable developments include:
- DeFi Development Corp adding 196,141 SOL ($39.7M) on Sept. 5, bringing its total above 2M SOL.
- Forward Industries securing a $1.65B private placement led by major crypto funds on Sept. 11 for a Solana-focused treasury program.
- SOL Strategies, a Canada-based company, listing on Nasdaq under ticker STKE with 3.62M SOL under delegation, becoming the first U.S.-listed Solana-dedicated public firm.
According to CoinGecko, seven entities now collectively hold 1.20% of Solana’s circulating supply, worth $1.4B.
Market Performance: SOL Nears 2021 Highs
Solana is currently trading around $226, up 1.2% on the day and moving closer to its all-time high of $293 set in 2021.
Recent data highlights strong institutional accumulation:
- Galaxy Digital purchased 1.35M SOL ($302M) within 12 hours earlier this week.
- Coinbase Prime transfers suggest coordinated inflows totaling 222,644 SOL ($48.2M).
Meanwhile, Solana’s DeFi ecosystem reached a record $12.2B in total value locked (TVL), more than double its level at the start of 2024.
Technical Outlook
Charts show Solana breaking out of a symmetrical triangle near $212, confirming a bullish setup. Analysts see near-term targets of $222–$224, with potential upside toward $240 if momentum holds.
Key levels:
- Support: $210–212 zone
- Resistance: $220–224 zone
- Risk trigger: Drop below $208 could weaken momentum
Indicators such as a rising RSI and green MACD histogram support the case for continued upward movement.
Bottom Line
Institutional buying, treasury diversification, and staking rewards are reinforcing Solana’s bullish narrative. With multiple billion-dollar vehicles in motion and TVL hitting new highs, Solana appears positioned for further gains—both on the balance sheets of corporations and in the wider crypto market.
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