Today, Solarbank Corporation (NASDAQ: Suun), a leader in distributed solar energy, battery storage and pure energy infrastructure over North America, has announced the integration of Bitcoin as a strategic reserve asset in his business chamber strategy after the footsteps of Microstratey and Sharplink games.
Solarbank has also applied to open an institutional account with Coinbase Prime (NASDAQ: MOIN), enabling secure Bitcoin parenting authority, USDC Services and a self-defense wallet for its Bitcoin Holdings.
The company cited several strategic benefits of adopting Bitcoin as reserve asset:
- Financial resilience: Bitcoin Holdings will act as a hedge against inflation and currency -down base.
- Clean Energy Off-Set: Emissions tied to Bitcoin mining will be counterbalanced by Solarbank’s renewable energy production.
- Market Appeal: The move is targeted at technical knowledgeable investors who are interested in digital assets, defi and blockchain.
- Competition Difference: Solarbank aims to differentiate itself as a first-mover in combining renewable energy with web3 and defi principles.
“As the adoption of Bitcoin continues to grow, Solarbank believes that the establishment of a Bitcoin Treasury strategy is tapping into a growing sector that sees increasing adoption,” commented Dr. Richard Lu. “In a world of ever -increasing energy needs and state treasury complexity, Solarbank delivers renewable energy solutions and recurring revenue, now combined with all the benefits of keeping Bitcoin.”
Solarbank further emphasized that its core focus remains on the development of renewable energy, which highlights several recent results:
- A US $ 100 million sun agreement with CIM Group targeting 97 MW projects.
- A $ 49.5 million deal with Qcells to implement us made solar technology.
- A partnership of $ 41 million with Honeywell to develop landfill -based solar farms.
- A credit facility of $ 25 million from RBC to expand its battery storage portfolio.
With over 1 GW projects under Development and Partnerships with Fortune 500 companies, Solarbank continues to generate recurring revenue through long-term contracts as they accelerate the carbonization efforts.
“The actual timing and value of Bitcoin purchases under the awarding strategy will be determined by management,” the company said in the press release. “Purchase also depends on several factors, including general market and business conditions, the trading price of Bitcoin and the expected cash need for solarbank. The award strategy may be suspended, ceased or changed at any time for some reason.