The post Solana treasuries claim 2% of SOL supply off the open market appeared on BitcoinEthereumNews.com.

Solana treasuries have increased their holdings and now hold 2% of SOL supply. On-chain data shows that around 16 Solana treasury firms hold roughly 11,739,00 SOL worth around $2.84 billion. At the time of publication, Solana is currently exchanging hands at around $243, nearing its all-time high of above $293. On-chain data shows that the digital asset has surged by roughly 2.11% in the past 24 hours and nearly 19% in the past 30 days. Institutions continue to bet on Solana Companies continue to bet on Solana, with Sharps Technology, DeFi Development, and Upexi each holding over 2 million SOL. BIT Mining Limited announced plans this week to purchase an additional 17,221 SOL. The initiative will bring the company’s holdings to more than 44,000 SOL, worth around $9.95 million. The firm shifted to Solana earlier in the year after revealing plans to raise up to $300 million to build a Solana treasury. The company’s plans aimed to transition it away from its legacy focus on Bitcoin, Ethereum Classic, Litecoin, and Dogecoin mining. BIT Mining also revealed plans to convert all its existing crypto holdings into SOL, with funds to be raised in phases depending on market conditions. The company’s chair and COO, Bo Yu, said the firm sees continued value in strengthening its presence within the Solana ecosystem. He also acknowledged that validator operations will remain central to BIT Mining Limited’s strategy of securing the SOL network and capturing staking rewards. Galaxy Digital, Jump Crypto, and Multicoin Capital revealed plans on August 25 to raise about $1 billion for a new Solana-focused treasury vehicle. Cantor Fitzgerald will also be advising on the deal.  The trio plans to acquire a publicly traded entity to form one of the largest corporate reserves dedicated to Solana. The initiative aims to surpass the size…

---

Filed under: News - @ September 13, 2025 1:21 pm