TORONTO, June 3, 2025 /PRNewswire/ – SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) (“SolarBank” or the “Company”), a leader in distributed solar energy, battery storage, and clean energy infrastructure throughout North America, has announced the integration of Bitcoin into its treasury strategy. This approach draws inspiration from MicroStrategy’s substantial Bitcoin investments and SharpLink Gaming’s strategy utilizing Ethereum. The Company has applied to open an account with Coinbase Prime (NASDAQ: COIN) for secure custody and self-custodial wallet services for its Bitcoin assets. Key benefits of this strategy include:
- Financial Resilience: Accumulating Bitcoin offers a hedge against currency devaluation and inflation, facilitating access to institutional financing.
- Clean Energy Offset: The renewable energy produced by SolarBank’s solar projects offsets emissions associated with Bitcoin mining.
- Market Appeal: With growing interest in digital assets, this strategy positions SolarBank to attract tech-savvy investors.
- Competitive Differentiation: As an early adopter of combining clean energy with DeFi and Web3 technologies, SolarBank stands out in the market, leveraging growth in renewable energy and disruptive finance.
Despite this new strategy, SolarBank will continue its primary focus as a renewable energy developer, supported by Tier-1 partnerships and a robust 1 GW pipeline. Recent milestones include:
- A $100 million U.S. community solar financing collaboration with CIM Group, aiming for 97 MW of renewable projects in the USA.
- A $49.5 million deal with Qcells for deploying community solar power plants featuring “Made-in-USA” solar panels.
- A $41 million partnership with Honeywell to transform closed landfill sites into clean energy community solar farms in the USA.
- A $25 million credit facility from Royal Bank of Canada (RBC) to enhance SolarBank’s battery energy storage projects, reinforcing institutional confidence in its revenue model.
Dr. Richard Lu remarked, “With the growing adoption of Bitcoin, SolarBank’s treasury strategy aims to capitalize on this increasing sector. In a world where energy demand and treasury complexity continue to rise, our renewable energy solutions, now complemented by Bitcoin, present significant advantages.”
With more than 1 GW in its organic development pipeline and operations across Canada and the USA, SolarBank is rapidly expanding its portfolio of solar and clean energy projects. The Company earns recurring revenue through long-term Power Purchase Agreements (PPAs) with utilities, municipalities, and Fortune 500 partners, all while contributing to decarbonization through ESG-compliant innovations.
The particulars related to Bitcoin purchases and allocation will be determined by management, reflecting various factors such as market conditions, Bitcoin pricing, and SolarBank’s cash flow needs. This strategy is subject to change and can be modified or halted at any time. As of this announcement, no Bitcoin purchases have occurred.
About SolarBank Corporation
SolarBank Corporation is an independent developer of renewable energy projects, focusing on distributed and community solar initiatives in both Canada and the USA. The Company specializes in developing solar and Battery Energy Storage System (BESS) projects, providing electricity to a range of consumers including utilities and municipalities, while maintaining a robust pipeline for future growth. For more information, please visit www.solarbankcorp.com.
