SolarBank plans to incorporate Bitcoin into its financial reserve strategy
ChainCatcher news, according to Cryptotimes, SolarBank Corporation announced that it will follow Michael Saylor's strategy and plans to incorporate Bitcoin into its financial reserves. The company has applied to open a Coinbase Prime account for the secure storage of Bitcoin, aiming to hedge against inflation and currency devaluation risks, while attracting investors interested in cryptocurrencies and DeFi.As a developer of solar and battery storage projects in North America, SolarBank stated that it can leverage clean energy to mitigate the environmental burden of Bitcoin mining. Currently, the company has not purchased any Bitcoin, and future purchases will depend on market conditions, Bitcoin prices, and the company's cash flow. SolarBank emphasized that its primary business focus remains on the construction and operation of renewable energy projects.