- The company has filed to open an account with Coinbase Prime to manage custody and transactions securely.
- This move follows similar strategies from MicroStrategy and SharpLink Gaming, blending clean energy with digital asset exposure.
- Bitcoin holdings are intended to hedge against inflation and diversify SolarBank’s treasury operations.
- The company maintains a core focus on solar and battery energy storage.
- Management has not yet purchased Bitcoin; allocations will depend on market conditions and corporate liquidity needs.
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 that it was integrating Bitcoin into its treasury strategy, a move that reflects a growing trend among public companies diversifying cash reserves with digital assets as a hedge against inflation and currency volatility (https://ibn.fm/h5oMU).
The company announced that it has applied to open an account with Coinbase Prime (NASDAQ: COIN), a digital asset platform offering secure custody and self-custodial wallet services. While no purchases have been made yet, the allocation is part of a broader effort to enhance financial resilience and appeal to a new category of investors. SolarBank’s decision to integrate Bitcoin as a strategic reserve asset was inspired by MicroStrategy’s multibillion-dollar Bitcoin strategy and SharpLink Gaming’s Ethereum-driven strategy, the company said.
SolarBank CEO and President Dr. Richard Lu said the decision stems from a belief in Bitcoin’s growing adoption and utility in treasury management. “As the adoption of Bitcoin continues to grow, SolarBank believes that establishing a Bitcoin treasury strategy taps into a growing sector that is seeing increasing adoption,” Lu said. “In a world of ever-increasing energy demand and treasury complexity, SolarBank delivers renewable energy solutions and recurring revenues, now combined with all of the benefits of holding Bitcoin.”
The actual timing and value of any Bitcoin purchases will be at management’s discretion, subject to liquidity, market conditions, and the price of Bitcoin. The company retains the option to pause or amend its strategy as needed.
The company cited multiple strategic motivations for the decision, such as hedging against inflation, enhancing liquidity options, and accessing institutional financing tied to digital assets. In addition, SolarBank believes the Bitcoin strategy will help distinguish it from peers in the clean energy sector, while appealing to investors focused on blockchain, decentralized finance (“DeFi”), and Web3-related themes.
SolarBank also emphasized the environmental aspect of its decision. According to the company, its clean energy generation assets, primarily solar farms and battery energy storage systems (“BESS”), help offset the emissions tied to the energy-intensive process of Bitcoin mining. While SolarBank itself is not directly involved in mining, the company presents its strategy as a responsible integration of renewable energy and digital finance.
The Bitcoin move comes at a time when the company is scaling rapidly across Canada and the United States. SolarBank recently announced several major deals, including a US$100 million U.S. community solar financing agreement with CIM Group and a US$49.5 million partnership with Qcells for Made-in-USA solar installations. It is also in the final stages of completing a US$41 million project with Honeywell to repurpose closed landfills into community solar farms.
The firm also secured a $25 million credit facility from the Royal Bank of Canada (“RBC”), which will be used to accelerate the development of BESS projects. These installations aim to stabilize the electricity grid and generate recurring revenue through long-term agreements with municipalities and utilities.
Even with the Bitcoin integration, SolarBank stated that renewable energy remains its core business. The company is targeting over 1 GW in its development pipeline and continues to partner with Tier-1 manufacturers and Fortune 500 clients in the infrastructure and utility sectors.
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 “SolarBank Announces Bitcoin Treasury Strategy” 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://ibn.fm/SUUN
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