Fitell Corporation announced on September 24, 2025, the completion of its initial acquisition of 46,144 Solana (SOL) tokens for approximately $10 million. This purchase marks the first strategic acquisition under the company’s newly launched Solana treasury initiative.
This initial acquisition follows the first closing under the company’s previously announced $100 million financing facility. CEO Sam Lu stated that this purchase manifests Fitell's execution and commitment to its Solana treasury strategy.
Fitell intends to make additional SOL purchases, with at least 70% of the net proceeds from each subsequent closing of the financing facility allocated to cryptocurrency acquisitions for its treasury reserve. The remaining proceeds will be used for broader crypto operations, on-chain initiatives, and working capital.
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