SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FS
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Posted On: 06/18/2025 4:24:33 PM
SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) Among Early Adopters of Bitcoin Treasury Strategies Amid Growing Trend
- SolarBank Corporation joins a group of 61 public companies adopting bitcoin treasury strategies.
- The company expects to bridge growing investor interest in crypto with the stability of renewable energy.
- SolarBank has applied to open an account with Coinbase Prime for custody and related services.
- CEO Richard Lu says the strategy helps attract a new class of tech-savvy investors.
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., announced this month it will begin holding bitcoin as part of its treasury reserves. The strategy marks SolarBank as one of the early adopters of what is becoming an increasingly common approach among publicly traded firms looking to diversify assets and attract new investors.
The concept of a bitcoin treasury strategy involves companies allocating a portion of their cash or reserves into the cryptocurrency. While it remains a relatively niche approach, a report by Reuters notes that 61 publicly listed companies not primarily focused on digital assets have now adopted such strategies (https://nnw.fm/zGN1L ).
Many of these firms were influenced by the gains of Strategy (formerly MicroStrategy), which began accumulating bitcoin in 2020 and now holds more than $63 billion of the asset.
According to Standard Chartered, the number of companies adopting this strategy have doubled their bitcoin holdings over the past two months, now holding just under 100,000 coins collectively. Firms like Trump Media & Technology Group, which raised $2.5 billion recently, are part of this trend. A separate joint venture involving SoftBank, Tether, and Cantor Fitzgerald is also seeking to acquire bitcoin on a large scale.
SolarBank has disclosed that it intends to use the net cashflow from its Geddes Project to purchase bitcoin. The Geddes Project is expected to be operational by the end of June 2025. The company has not yet purchased any bitcoin. However, CEO Richard Lu framed the decision as a strategic blend of traditional energy business with contemporary digital asset exposure.
“Traditionally, people invest in utilities as [an] afterthought. It’s a very low return. It’s a stable return,” Lu told Reuters. “So, how do we bridge the excitement of the new world and a classic industry? We feel that the crypto part of that is a bridge we need to cross.”
SolarBank says the decision is designed to align the company with emerging digital asset infrastructure while differentiating its utility-focused profile from competitors. The company has filed to open an account with Coinbase Prime (NASDAQ: COIN) to securely custody bitcoin and manage its digital assets.
The company cited several intended benefits for the strategy. These include financial resilience against inflation, potential access to institutional capital, and the ability to offset bitcoin-related energy use with its clean energy generation portfolio.
By integrating bitcoin into its treasury, SolarBank is also targeting a new base of investors interested in blockchain, digital finance, and decentralized technologies. The company emphasized that its clean energy operations may offer a unique positioning in the current crypto landscape, where environmental concerns around mining remain prominent.
For more information, visit the company’s website at SolarBankCorp.com.
There are several risks associated with the development of the projects detailed in this report. The development of any project is subject to the continued availability of third-party financing arrangements for the project owners and the risks associated with the construction of a solar power project. There is no certainty the projects disclosed in this report will be completed on schedule or that they will operate in accordance with their design capacity.
This report contains forward looking information. Please refer to the press release entitled “Bitcoin Purchases to be made by SolarBank Using Net Cash from Geddes Solar Power Project” for additional details on the statements, risks and assumptions.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
- SolarBank Corporation joins a group of 61 public companies adopting bitcoin treasury strategies.
- The company expects to bridge growing investor interest in crypto with the stability of renewable energy.
- SolarBank has applied to open an account with Coinbase Prime for custody and related services.
- CEO Richard Lu says the strategy helps attract a new class of tech-savvy investors.
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., announced this month it will begin holding bitcoin as part of its treasury reserves. The strategy marks SolarBank as one of the early adopters of what is becoming an increasingly common approach among publicly traded firms looking to diversify assets and attract new investors.
The concept of a bitcoin treasury strategy involves companies allocating a portion of their cash or reserves into the cryptocurrency. While it remains a relatively niche approach, a report by Reuters notes that 61 publicly listed companies not primarily focused on digital assets have now adopted such strategies (https://nnw.fm/zGN1L ).
Many of these firms were influenced by the gains of Strategy (formerly MicroStrategy), which began accumulating bitcoin in 2020 and now holds more than $63 billion of the asset.
According to Standard Chartered, the number of companies adopting this strategy have doubled their bitcoin holdings over the past two months, now holding just under 100,000 coins collectively. Firms like Trump Media & Technology Group, which raised $2.5 billion recently, are part of this trend. A separate joint venture involving SoftBank, Tether, and Cantor Fitzgerald is also seeking to acquire bitcoin on a large scale.
SolarBank has disclosed that it intends to use the net cashflow from its Geddes Project to purchase bitcoin. The Geddes Project is expected to be operational by the end of June 2025. The company has not yet purchased any bitcoin. However, CEO Richard Lu framed the decision as a strategic blend of traditional energy business with contemporary digital asset exposure.
“Traditionally, people invest in utilities as [an] afterthought. It’s a very low return. It’s a stable return,” Lu told Reuters. “So, how do we bridge the excitement of the new world and a classic industry? We feel that the crypto part of that is a bridge we need to cross.”
SolarBank says the decision is designed to align the company with emerging digital asset infrastructure while differentiating its utility-focused profile from competitors. The company has filed to open an account with Coinbase Prime (NASDAQ: COIN) to securely custody bitcoin and manage its digital assets.
The company cited several intended benefits for the strategy. These include financial resilience against inflation, potential access to institutional capital, and the ability to offset bitcoin-related energy use with its clean energy generation portfolio.
By integrating bitcoin into its treasury, SolarBank is also targeting a new base of investors interested in blockchain, digital finance, and decentralized technologies. The company emphasized that its clean energy operations may offer a unique positioning in the current crypto landscape, where environmental concerns around mining remain prominent.
For more information, visit the company’s website at SolarBankCorp.com.
There are several risks associated with the development of the projects detailed in this report. The development of any project is subject to the continued availability of third-party financing arrangements for the project owners and the risks associated with the construction of a solar power project. There is no certainty the projects disclosed in this report will be completed on schedule or that they will operate in accordance with their design capacity.
This report contains forward looking information. Please refer to the press release entitled “Bitcoin Purchases to be made by SolarBank Using Net Cash from Geddes Solar Power Project” for additional details on the statements, risks and assumptions.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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