Fitell Corporation Secures $100 Million Funding for Solana Treasury Strategy

Fitell Corporation (NASDAQ: FTEL) announced on September 23, that it secured a $100 million financing facility to establish a Solana-based digital asset treasury, marking the company's entry into crypto treasury management. The Sydney-based fitness equipment retailer plans to focus on yield generation and on-chain decentralized finance innovation as part of its new treasury strategy.

Fitell Corporation operates as an online retailer of gym and fitness equipment through its subsidiary GD Wellness Pty Ltd, selling home gym equipment, commercial strength-training machines, and cardio equipment including rowing machines. Founded in 2007 and headquartered in New South Wales, Australia, the company has been publicly traded on NASDAQ under the ticker FTEL.

The financing facility will enable Fitell to purchase Solana tokens and deploy them in various DeFi protocols to generate yield for shareholders. The company stated it appointed DeFi experts to help manage the treasury strategy and optimize returns through on-chain opportunities. This move represents Australia's first corporate Solana treasury implementation by a publicly listed company.

Fitell's treasury strategy comes as corporate adoption of crypto assets continues expanding globally. The company joins a growing list of corporations integrating digital assets into their balance sheets, though most have historically focused on Bitcoin rather than alternative cryptocurrencies like Solana. The timing coincides with increased institutional interest in Solana's ecosystem, which has seen significant growth in DeFi applications and yield opportunities throughout 2025. 

The company operates on a hybrid business model combining product sales, subscription services, and digital platforms in the fitness equipment sector. By diversifying into crypto treasury management, Fitell aims to generate additional revenue streams beyond its traditional fitness equipment business while potentially benefiting from Solana's ecosystem growth.

The announcement also mentioned plans for potential dual listing considerations, though specific details about additional exchange listings were not immediately disclosed. The $100 million facility represents a significant capital commitment relative to the company's traditional fitness equipment operations. 

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