Sol and Bitcoin illuminate the new strategic direction of Solarbek

Solarbank Corporation, a Canadian company dedicated to distributed solar energy, battery storage and clean energy infrastructure in North America, begins to implement a treasury strategy that integrates Bitcoin (BTC) as a strategic reserve asset.

The measure is Inspired by Strategy’s billionaire approach (formerly Microstrategy)the Bitcoiner company Michael Saylor.

According to Solarbank, they will open an account in Coinbase Prime to manage the custody of the Bitcoin that they are going to acquire. This, as they have done other large companies that also invest in BTC, such as Blackrock and Strategy herself.

Solarbank indicated that this movement seeks to protect them against the devaluation of Fíat and inflation currencieswhile opening access to institutional financing. Despite this initiative, Solarbank’s main business will continue to be the development of solar projects and energy storage.

The Solarbek strategy takes advantage of the renewable energy of its portfolio to compensate for the emissions generated by Bitcoin mining, aligning with its sustainability commitment. In addition, the company seeks to attract investors interested in digital tokens, artificial intelligence and decentralized finance (DEFI).

The president and CEO of the company, Richard Lu, said: “As Bitcoin’s adoption continues to grow, Solarbank believes that establishing a BTC treasury strategy takes advantage of a growing sector that is experiencing an increasing adoption.”

“In an increasing energy demand and complexity of treasury, Solarbank offers renewable energy solutions and recurrent income, now combined with all the benefits of having bitcoin,” he added.

Solarbank has not yet made Bitcoin purchases, and management will determine the moment and value of acquisitions according to market conditions, BTC price and the company’s cash needs. This strategy can be suspended or modified at any timeas reported.

After the announcement, Solarbank’s shares in Nasdaq (Ticker: suun) rose 1.32%, reaching a maximum of $ 1.96although they then corrected $ 1.51 at the close of the market, as can be seen in the following Google Finance graph:

As Cryptonoticias has reported, Michael Saylor, CEO of Strategy, has inspired companies from various sectors to establish Bitcoin treasures. Recently we announced the case of the Spanish Vanadi coffee shop chain, to adopt Bitcoin as a strategic reserve.