Japanese game company Enish has sold all of its 8.063 Bitcoin at a loss of about $160,000 and is pivoting to a Solana ecosystem staking strategy targeting 6% to 8% annualized returns. According to ChainCatcher, the company said its approach of relying on crypto price appreciation has become increasingly difficult to sustain amid market volatility, and it is shifting toward generating recurring income through staking and validator operations.
Enish said it plans to use about $46,000 raised from the Bitcoin sale and from issuing warrants and bonds to support Solana validator operations. The company has contacted Japan-based Solana infrastructure provider Solplanet to use its white-label validator program.
The report said Enish is the second listed company in 10 days to abandon a strategy of accumulating Bitcoin reserves.