Catenaa, Saturday, September 27, 2025- Australian-listed Fitell Corporation has secured a $100 million financing facility to build what it calls the country’s first Solana-based digital asset treasury.
The fitness and health solutions company said Tuesday it will rebrand as Solana Australia Corporation, marking a pivot from traditional operations to a blockchain-focused strategy. An initial $10 million will be deployed immediately to purchase Solana tokens, with plans to expand to the full facility through a U.S.-based institutional investor.
Fitell said its digital asset treasury will pursue yield generation beyond staking, exploring structured products, options, liquidity provisioning, and other managed-risk strategies. The approach, the company noted, is designed to align digital asset treasuries with the blueprint for future crypto exchange-traded funds.
David Swaney, newly appointed advisor to the initiative, said generating yield through advanced structures would define the next stage of treasury management.
The move comes amid a wider wave of investment into digital asset treasuries, with more than $20 billion allocated globally this year, mainly into Bitcoin, Ethereum, and Solana. Other players in the space include Upexi, Sharps Technology, and Forward Technology, which is backed by Galaxy Digital, Jump Crypto, and Multicoin Capital and reportedly seeks $4 billion in funding.
Shares of Fitell, listed on Nasdaq under ticker FTEL, surged more than 50 percent to $13.63 Tuesday before retreating to $7.86 in later trading.
