Charles Esther
Classover, a K-12 education company, has announced its expansion into the cryptocurrency space by creating a Solana (SOL) reserve.
The company plans to issue up to $500 million in senior convertible notes, with 80% of the proceeds dedicated to purchasing Solana tokens.
This move reflects a growing trend of companies diversifying into crypto-related strategies alongside their main business operations.
Initial Solana Purchase and Funding Details
According to a June 2 announcement, Classover has already acquired 6,472 SOL tokens, valued at approximately $1.1 million, to kickstart its reserve.
The planned issuance of $500 million in convertible notes is being carried out through a partnership with Solana Growth Ventures.
Classover operates as an online education provider offering courses for K-12 students around the world.
Following the announcement, on June 3, the company’s shares rose significantly on the Nasdaq, reaching $5.45 — marking an intraday gain of 46.5% at the time of publication.
Financing Strategy and Potential Solana Holdings
The company stated that the $500 million convertible notes issuance could complement its existing $400 million equity purchase agreement.
Together, these financing methods could enable Classover to increase its Solana purchasing power to $900 million.
This dual approach underscores the company’s strong commitment to its new crypto strategy.
Growing Trend of Solana Reserve Companies
Classover’s shift toward becoming a Solana reserve company highlights a broader pattern among publicly traded firms leveraging SOL to create additional revenue streams and attract investor interest.
In May, SOL Strategies, a publicly traded Canadian company, sought regulatory approval to raise up to $1 billion to support its Solana staking operations.
Their Q2 2025 earnings report showed growth in validator and staking revenue, confirming the potential profitability of such ventures.
Similarly, Upexi, another Nasdaq-listed company, experienced a remarkable 630% surge in shares after announcing a $100 million fundraising round in April.
Ninety percent of those funds were dedicated to Solana purchases, further indicating the rising appeal of Solana among corporate investors.
Conclusion
Classover’s announcement to build a significant Solana reserve through convertible notes and equity financing marks an important step for education companies embracing cryptocurrency.
This move not only aligns with the expanding interest in blockchain technologies but also signals a strategic attempt to tap into new revenue sources while appealing to crypto-savvy investors.
As more companies follow suit, Solana’s role in corporate finance and investment strategies is poised to grow even further.
