Solana treasury company Solmate's stock price soared to $11.7, announcing a validator center plan and an aggressive acquisition strategy

ChainCatcher news, according to The Block, Nasdaq-listed Solmate Infrastructure (SLMT) saw its stock price soar 40% to $11.7 on Thursday, with a market capitalization of $754 million, following the company's announcement of validator progress, merger and acquisition strategy, and PIPE financing updates.

Solmate has selected a data center to build its bare-metal validator, which will become the first high-performance Solana node in the Middle East. The company is testing its first validator configuration using "SOL purchased at historically discounted prices." Last month, former Brera Holdings rebranded to Solmate, transforming into a Solana-based digital asset treasury. Institutions such as the Solana Foundation and Cathie Wood's Ark Invest participated in the company's $300 million PIPE financing.

Last week, Solmate received $50 million in discounted SOL from the Solana Foundation to support its infrastructure development in the UAE. CEO Marco Santori stated that the company will implement an "aggressive acquisition strategy," seeking target companies that can synergistically grow with the SOL treasury to create more "per share SOL" value for investors.