Solmate Infrastructure has purchased $50 million worth of Solana (SOL) to expand its blockchain infrastructure in the UAE, while Cathie Wood’s Ark Invest now holds an 11.5% stake in the company.
Solmate Infrastructure announced on Tuesday that it had acquired $50 million worth of Solana (SOL) directly from the Solana Foundation. The purchase, made at a 15% discount, aims to strengthen Solmate’s “bare-metal” infrastructure projects in the United Arab Emirates. The deal was struck during last weekend’s market volatility, and the Solana Foundation gained the right to appoint two directors to Solmate’s board.
Meanwhile, Cathie Wood’s Ark Invest disclosed an 11.5% ownership stake in Solmate. Following the announcement, Solmate’s publicly traded shares fell 6% to $14.58. The move underscores growing institutional interest in Solana-focused infrastructure ventures.
Last month, Solmate raised $300 million in a private funding round that included participation from the Solana Foundation, Ark Invest, RockawayX, and UAE-based investors. The company aims to establish a “Solana-based digital asset treasury” model that combines staking returns with infrastructure development. Recent discounted token sales have reportedly pushed the total SOL holdings of publicly listed Solana companies above $3 billion.
