Today, Solarbank Corporation (NASDAQ:SUUN), a leader in distributed solar, battery storage and clean energy infrastructure in North America, announced that it will include Bitcoin as a strategic reserve asset in its corporate inventory strategy following the scope of MicroStrategy and Sharplink Gaming.
Solarbank also applied for opening an institutional account using Coinbase Prime (NASDAQ:COIN), enabling secure Bitcoin custody, USDC services and a self-guarding wallet for its Bitcoin holdings.
The company cited several strategic advantages of adopting Bitcoin as a reserve asset:
- Financial elasticity: Bitcoin holdings will be a hedge against inflation and currency depreciation.
- Clean Energy Outside: Solarbank’s renewable energy generation will offset emissions related to Bitcoin mining.
- Market Attraction: This move targets tech-savvy investors with interest in digital assets, DEFI and blockchain.
- Competitive Differentiation: Solarbank aims to use itself as the first-place difference in combining renewable energy with Web3 and Defi principles.
“As Bitcoin adoption continues to grow, Solarbank believes that building a Bitcoin treasury strategy has attacked a growing field, and adoption in this field is increasing,” said Dr. Richard Lu. “In a world of increasing energy demand and treasury complexity, Solarbank offers renewable energy solutions and recurring revenues, now plus all the benefits of holding Bitcoin.”
Solarbank further stressed that its core focus remains on renewable energy development, highlighting some recent achievements:
- A $100 million solar deal with CIM Group targets a 97 MW project.
- A $49.5 million deal with QCells to deploy U.S.-made solar technology.
- A $41 million partnership with Honeywell to develop a landfill-based solar farm.
- Provides a $25 million credit line from Royal Bank of Canada (RBC) to expand its battery energy storage portfolio.
With over 1 GW of project development and partnerships with Fortune 500 companies, Solarbank continues to generate recurring revenue through long-term contracts while accelerating decarbonization efforts.
“Under the allocation strategy, the actual time and value of Bitcoin purchases will be determined by management,” the company said in a press release. “The purchase will also depend on several factors, including general market and business conditions, the transaction price of Bitcoin, and the expected cash demand of Solarbank. The allocation strategy may be suspended, suspended or modified at any time for any reason at any time. As of the date of this press release, no Bitcoin purchase enzymes have been made.”
