TechFlow, Oct 24 — According to The Block, shares of Nasdaq-listed Solmate Infrastructure (SLMT) surged 40% on Thursday to $11.70, giving the company a market capitalization of $754 million, following announcements regarding validator progress, an acquisition strategy, and updates on its PIPE financing.
Solmate has selected a data center for building its bare-metal validators, which will become the first high-performance Solana node in the Middle East. The company is using "SOL purchased at historically discounted prices" to test its initial validator setup.
Last month, former Brera Holdings rebranded as Solmate, transitioning into a Solana-based digital asset treasury. Institutions including the Solana Foundation and Cathie Wood's Ark Invest participated in the company’s $300 million PIPE financing. Last week, Solmate received 50 million discounted SOL from the Solana Foundation to support its infrastructure development in the UAE.
CEO Marco Santori stated the company will pursue an "aggressive acquisition strategy," targeting businesses that can grow synergistically with its SOL treasury, creating more "SOL per share" value for investors.
