Solana News: Solana Treasury Race Heats Up as Public Firms Chase 8% Staking Yields

Key Takeaways:Three public companies — Upexi, DeFi Development Corp., and Bit Mining — significantly increased their Solana (SOL) holdings this week.Upexi now holds over 2 million SOL and earns $65,000 daily from staking rewards.Bit Mining launched its own validator and plans to raise $300 million to build a Solana-focused treasury.Corporate interest in SOL is rising as firms look to diversify beyond Bitcoin and earn passive income through staking.Public Companies Accumulate SOL to Tap Staking RevenueThe race to accumulate Solana (SOL) is intensifying among publicly listed companies, as staking yields of up to 8% draw increasing attention. This week, three public firms — Bit Mining, Upexi, and DeFi Development Corp. — disclosed significant SOL purchases aimed at generating yield and building long-term exposure to the Solana ecosystem.Bit Mining, traditionally a Bitcoin mining company, announced the purchase of 27,191 SOL for $4.5 million and the launch of its own self-operated validator to start staking operations. The move marks a strategic shift toward the Solana ecosystem, where Bit Mining intends to raise up to $300 million to expand its token treasury and infrastructure presence.Upexi Leads with Over 2 Million Staked SOL, $65K Daily RevenueThe biggest SOL buyer so far is Upexi, a U.S.-listed supply chain and brand management firm. The company increased its holdings from 735,692 SOL at the end of June to more than 2 million SOL by early August. CEO Allan Marshall said July was a “game-changing month” for the company, during which it raised over $200 million for further Solana acquisitions.Most of Upexi’s SOL has already been staked, earning an estimated 8% yield — equivalent to $65,000 in daily staking revenue, according to Marshall. This positions Upexi at the top of the Solana treasury leaderboard, ahead of competitors like DeFi Development Corp. and SOL Strategies.DeFi Development Corp. Grows to 1.2 Million SOLReal estate technology firm DeFi Development Corp. (formerly Janover) has also ramped up its SOL exposure. The company recently purchased another 110,466 SOL, bringing its total to more than 1.2 million tokens. Like its peers, DeFi Development stated that it plans to stake its entire SOL treasury with a range of validators to maximize yield.DeFi Development began its Solana journey in April after being acquired by a team of former Kraken executives, who signaled a pivot from real estate lending to digital asset infrastructure.Corporate Staking Trend Gains MomentumAccording to a recent report by BitGo, the growing number of companies adopting Solana reflects a broader trend in corporate treasury management. The move comes as businesses look to diversify beyond Bitcoin (BTC) and into yield-bearing digital assets.“Companies adopting Solana gain exposure to reward-generating digital assets, align strategically with emerging blockchain infrastructure, and differentiate themselves in the marketplace,” the BitGo report stated.The firm added that staking revenue offers an attractive alternative to idle cash or traditional treasury strategies, especially in a high-interest environment where passive yield on-chain is now competitive with traditional finance.Solana Holdings by Public Companies Cross $590 MillionAccording to CoinGecko, the top four Solana-holding companies now control over 3.5 million SOL, worth an estimated $591.1 million. This accounts for approximately 0.65% of Solana’s total circulating supply — a small but rapidly growing segment of the token’s ownership.Upexi: ~2 million SOLDeFi Development Corp.: ~1.2 million SOLSOL Strategies: Unspecified total, focused on infrastructureBit Mining: 27,191 SOL and plans to expandAs competition heats up, more companies may join the Solana staking race, drawn by its combination of high yields, growing ecosystem, and institutional momentum.A New Era for On-Chain Treasuries?The wave of Solana treasury accumulation signals a new trend in crypto-native corporate strategy. Instead of simply holding digital assets passively, firms are now building actively managed staking portfolios, using Solana’s high throughput and yield potential as a foundation for treasury optimization.With over half a billion dollars already committed and plans for hundreds of millions more, the Solana staking economy may soon emerge as a major institutional use case — not just for blockchain infrastructure, but for corporate finance itself, according to Cointelegraph.