SolarBank Corporation, a Canadian company dedicated to North American distributed solar energy, battery storage and clean energy infrastructure, is beginning to implement a financial strategy to integrate Bitcoin (BTC) as a strategic reserve asset.
The scale is Inspired by the billionaire approach of strategy (previously micro-strategic)Bitconner Company Michael Saylor.
According to SolarBank, they open an account on Coinbase Prime to manage the Bitcoin they are trying to earn. This is because they have done other large companies that also invested in BTC, such as BlackRock and Strategy.
SolarBank showed this move Trying to protect them from devaluation of fia and inflationary currencywhilst having open access to institutional fundraising. Despite this initiative, SolarBank’s main business will continue to be solar projects and energy storage development.
Solarbek Strategy leverages renewable energy in its portfolio to compensate for the emissions generated by Bitcoin mining and is in line with its sustainability commitment. Additionally, the company aims to attract investors interested in digital tokens, artificial intelligence and distributed finance (DEFI).
“We’re looking forward to seeing you in the company’s business,” said Richard Lou, president and CEO of the company. “As Bitcoin adoptions continue to grow, Solarbank believes that by establishing a BTC financial strategy, it will take advantage of growing sectors experiencing an increase in adoption.”
“In the increasing energy demand and complexity of the Treasury, SolarBank offers renewable energy solutions and recurring revenues, and is now combined with all the benefits of having Bitcoin,” he added.
SolarBank has not yet made the purchase of Bitcoin, and management will determine the moment and value of the acquisition according to market conditions, BTC prices and the company’s cash needs. This strategy can be stopped or changed at any timeas reported.
After the announcement, SolarBank’s Nasdaq (ticker: Suun) shares rose 1.32%. Up to $1.96although they fixed $1.51 at the end of the market, as can be seen in the next Google Finance graph,
As reported by Cryptonoticias, Strategy CEO Michael Saylor has urged companies from various sectors to establish Bitcoin treasures. Recently, we have published a case study of a Spanish Banadi Coffee Shop chain to adopt Bitcoin as a strategic reserve.