Yeliz Akmaca 
Australian-based Fitell Corporation has announced the purchase of 216.8 million Pump.Fun (PUMP) tokens connected to the Solana ecosystem. The company reportedly paid $1.5 million for this acquisition, aiming to diversify its digital asset treasury.
Fitell Expands in Solana with PUMP Token Acquisition
Last month, Fitell Corporation signed a convertible note agreement worth up to $100 million with a U.S.-based institutional investor. From the first tranche of this financing, $10 million was allocated to acquiring Solana (SOL).
The PUMP token has surged over 90% in the past month, reaching a market capitalization of $2.5 billion. This growth highlights a significant move within the current altcoin trends, which continue to gain momentum this week.
CEO Emphasizes Long-Term Growth
Fitell CEO Sam Lu stated, “As we deepen our involvement in Solana’s growth story, we are diversifying our digital asset treasury to capture long-term growth opportunities for our stakeholders.”
Beyond crypto purchases, the company plans to leverage SOL holdings through “structured products” to generate additional returns, reflecting an advanced and strategic approach to its digital asset management.
Fitell’s Digital Asset Strategy:
- Capital allocated for Solana (SOL) acquisitions
- Participation in altcoin trends via PUMP token investment
- Targeting returns through structured products
- Rebranding as Solana Australia Corporation
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