SolarBank Corporation is now also following the footsteps of Michael Saylor’s Strategy (formerly MicroStrategy) by adding Bitcoin to its treasury reserves. This design is part of a long-term plan to strengthen its finances and appeal to tech-savvy investors.
According to the filing, the company has applied to open an account with Coinbase Prime, where they can store bitcoin securely, use tools like USDC, and use a self-custody wallet. SolarBank Corporation builds solar and battery storage projects in North America.
Why SolarBank Chosse Bitcoin?
SolarBank intends to use Bitcoin to protect its finances against inflation and the depreciation of existing currencies. It also gives the firm more freedom in how it generates cash, allowing it to access new types of institutional finance that are increasingly linked to digital assets.
The biggest concern of Bitcoin mining is that it consumes a lot of energy. But with the production of solar power and increasing battery storage, the company can somehow reduce the environmental burden of Bitcoin. The company also opted for Bitcoin due to the increasing number of tech-savvy investors looking for crypto, blockchain, and decentralised finance (DeFi).
SolarBank is the company that combines clean energy with technologies like DeFi and Web3. This makes it different and benefits the growing interest in both renewable energy and innovative finance.
CEO Dr. Richard Lu said, “Bitcoin is gaining ground, and we believe adding it to our treasury strategy makes sense in today’s energy and finance landscape. This move strengthens our mission: delivering clean energy and building long-term value.
However, the company has not bought any bitcoin. SolarBank says purchases will depend on market conditions, Bitcoin’s price, and its own cash flow. The strategy could change at any time, depending on business needs. The company has also clarified that its main focus is still building and operating renewable energy projects, despite this new bitcoin strategy.
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