Solmate Infrastructure Shares Update on Validator and M&A Plans
Solmate Infrastructure (SLMT), a Solana treasury company, gave an update on its business on Wednesday. It shared details about its validator operations and data center choice. The company also discussed its plan for mergers and acquisitions (M&A) and changes to its rights agreement.
Solmate, once called Brera Holdings, picked a data center in the UAE. It will test what may become the first high-performance Solana validator in the Middle East. Last week, Solmate bought over $50 million in discounted SOL tokens from the Solana Foundation. These tokens will help test its validator functions.
The Nasdaq-listed company said that its focus on infrastructure sets it apart from other digital asset treasuries, which often use financial methods to grow. Solmate has an “aggressive M&A strategy” aimed at companies that fit its treasury approach.
CEO Marco Santori, formerly chief legal officer at Kraken, said, “We want businesses where our SOL holdings will drive growth—for them and Solmate. This growth will increase SOL per share for our investors.”
Last month, Solmate raised $300 million in a private investment in public equity (PIPE) round. Major investors included ARK Invest, Pulsar Group, RockawayX, and the Solana Foundation. The company plans to file an amended registration statement by November 22.
Solmate holds 1.21 million SOL tokens. It is the sixth-largest public Solana digital asset treasury. Others ahead of it are Forward Industries, Solana Company, DeFi Development Corp, Sharps Technology, and Upexi, per Strategic SOL Reserve.
On Thursday, Solmate’s stock (SLMT) closed at $11.41, rising over 36%.
Solana (SOL) Rises 6% and Approaches Key Resistance Level
Solana’s price increased by 6% in the last 24 hours. It outperformed other top 10 cryptocurrencies. SOL looks set to retest the 50% Fibonacci Retracement level at $195.5.
This level is near the 100-day Exponential Moving Average (EMA), which capped SOL’s gains on Tuesday. If SOL breaks above both the 100-day and 50-day EMAs, it might reach $209.
If it fails to climb past $195.5, SOL could find support near the 38.2% Fibonacci Retracement at $171.8.
The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are at neutral levels. This shows bearish momentum is weakening.
