Fitell Corporation Launches $100M Solana Treasury Strategy in Australia

Fitell Corporation, an Australian fitness and health solutions provider, has announced the launch of Australia's first Solana-based digital asset treasury. The company secured a $100 million financing facility with a US institutional investor to support this initiative.

$10 million from the initial closing will be used to purchase [Solana](https://holder.io/coins/sol/).
Fitell plans to rebrand as "Solana Australia Corporation" and pursue a dual listing on the ASX.
The treasury aims to generate yields through diverse DeFi and derivatives strategies, reinvesting returns into the treasury reserve.
Fitell's CEO, Sam Lu, aims to make the company the largest publicly listed SOL holder in Australia and Asia Pacific.

Recent trends show increased corporate adoption of Solana, with significant investments in Solana-focused Digital Asset Treasury (DAT) strategies:

Helius Medical Technology launched a $500 million SOL treasury strategy.
Forward Industries Inc. raised $1.65 billion for a SOL treasury, partnering with Superstate to tokenize shares on the Solana blockchain.

These developments suggest a growing corporate interest in Solana, potentially leading to a "Solana Season" fueled by strong treasury purchases and anticipated ETF approvals. As of now, SOL trades at $220, marking a 6.7% decline over the week.

Solana, sol, solusdt