Classover Shares Surge Nearly 40% on $500M Solana Treasury Strategy
After revealing a strategy to collect as much as $500 million for a Solana (SOL)-based corporate treasury, shares of Classover Holdings, an educational technology company listed on Nasdaq, skyrocketed almost 40% on Monday.
The company, which has its headquarters in New York, announced the signing of a securities purchase agreement with Solana Growth Ventures LLC, to issue as much as $500 million in senior secured convertible notes An initial funding of $11 million is anticipated soon, pending standard closing conditions.
Classover will designate 80% of its new funding for Solana purchases
Classover, a K–12 online education platform, has announced a strategic agreement to allocate up to 80% of its net proceeds toward purchasing SOL, the native token of the Solana blockchain. The move is part of a broader initiative to establish a Solana-based treasury reserve, signaling the company’s expanding focus on blockchain-integrated financial strategies.
“This agreement marks a significant milestone in the company’s strategic initiative to build a SOL-based treasury reserve,” said Stephanie Luo, CEO of Classover. “By entering into this agreement, Classover reaffirms its strong commitment to becoming a leader in blockchain-aligned financial strategy.”
$900 Million in Potential SOL Financing
The agreement follows Classover’s previously announced $400 million equity purchase deal, bringing its total potential financing for SOL acquisitions to $900 million. News of the deal drove Classover’s stock up 39.85%, closing at $3.72 on Monday, although shares dipped 1.88% in after-hours trading, according to Yahoo Finance. Despite the rally, the stock remains down 48.19% over the past month and 7.23% year-to-date.
Founded in 2020, Classover traditionally focused on live virtual classes for K–12 students. However, its recent treasury shift marks a major pivot toward blockchain asset management, with SOL now positioned as a core asset on its balance sheet.
Solana Gaining Momentum in Corporate Treasuries
Classover joins a growing list of companies embracing Solana as part of their corporate financial strategies. Other adopters include SOL Strategies, DeFi Development Corp., Upexi, and Janover, all of which are integrating SOL into their operations or exploring blockchain-centric pivots.
The move also reflects a broader trend of corporate cryptocurrency adoption. Just last month, energy firm VivoPower became the first public company to declare XRP as a strategic reserve asset, committing $121 million to the token.
Meanwhile, Bitcoin continues to dominate corporate treasuries. According to BitcoinTreasuries.NET, 116 public companies now hold Bitcoin on their balance sheets. Recent entrants include GameStop and Swedish health tech firm H100. Leading the pack remains MicroStrategy, with 580,250 BTC valued at approximately $60.9 billion.
Crypto Treasury Adoption Accelerates
The surge in cryptocurrency prices—highlighted by Bitcoin’s recent all-time high of $111,965—has driven a wave of fundraising activity and corporate pivots. Companies are increasingly rushing to raise capital for large-scale digital asset acquisitions while investor appetite remains strong.
Just last week, Trump Media & Technology Group revealed plans to raise $2.5 billion for crypto investments, further underscoring the momentum behind the MicroStrategy-style treasury playbook.
Classover’s aggressive push into Solana positions it at the forefront of this trend, signaling a new era where blockchain tokens are becoming strategic assets in corporate finance.
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