Listed Firms Boost Solana Staking for 8% Yield, Raise $500M+
Three listed companies—Bit Mining, Upexi and DeFi Development—have significantly expanded their Solana (SOL) holdings to capture Solana staking rewards and strengthen network infrastructure. Bit Mining bought 27,191 SOL ($4.5M) and launched a self-operated validator, while Upexi increased its stake from 735,692 SOL to over 2M SOL in July, earning about 8% annualized yield (~$65K daily). DeFi Development added 110,466 SOL, bringing its total to over 1.2M SOL for multi-validator staking. Together, these top four corporate holders control more than 3.5M SOL—0.65% of circulating supply—valued at $591M. BitGo attributes this trend to institutional diversification beyond Bitcoin, with firms raising over $500M to fund Solana reserves and ecosystem infrastructure. This surge in Solana staking is likely to tighten supply and enhance network security, offering bullish prospects for SOL traders.
Bullish
The news is bullish for SOL as increased institutional staking reduces liquid supply and signals growing confidence in the network. In the short term, large corporate purchases and new validators can drive price support by tightening available tokens and attracting more staking participants. Over the long term, the shift toward reward-generating assets like SOL reflects institutional diversification trends—this could enhance SOL’s demand profile, improve network security, and foster ecosystem growth, all positive catalysts for SOL’s price.