✎ Contributed by Ty Griffin
Disseminated on behalf of SolarBank Corporation
- 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.
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…
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