Fitell Corporation Expands Solana Treasury with $1.5M PUMP Token Purchase

Australia’s Fitell Corporation, a Nasdaq-listed company, has made headlines by purchasing 216.8 million PUMP tokens for $1.5 million. This bold acquisition is part of the firm’s growing Solana-centric treasury strategy, signaling a dramatic shift from its original fitness equipment business toward becoming a digital asset-focused enterprise.

Before adding PUMP, Fitell had already allocated $10 million into Solana (SOL) through a $100 million convertible debt facility. With SOL currently trading around $203.27, this represents approximately 49,200 tokens. The new PUMP purchase therefore supplements rather than replaces its substantial SOL holdings.

PUMP is the native token powering Pump.fun, a rapidly expanding Solana-based memecoin launchpad that recently outperformed Hyperliquid in daily revenue. Fitell’s large-scale entry highlights growing institutional interest in Solana’s ecosystem, even in risk-heavy sectors like meme tokens.

Despite the strategic push, investor sentiment reacted cautiously. Fitell’s share price fell 8.31% to $5.52 after the announcement, reflecting market concern over the risks tied to such a concentrated token bet. With PUMP’s market cap at just $6.8 million, Fitell’s $1.5 million buy represents a major allocation relative to its size.

Looking ahead, Fitell plans to deploy its SOL and PUMP holdings into structured yield products, further cementing its pivot into crypto treasury management. The company also revealed plans to rebrand as “Solana Australia Corporation”, underscoring its long-term commitment to blockchain assets.

Meanwhile, market data shows PUMP has surged over 90% in market cap over the past month to around $2.5 billion, fueled by Bitcoin’s rally near $119,500. However, futures activity has cooled, with trading volume down nearly 30% to $466.8 million. Still, open interest sits near $190 million, and the token continues to trade with volatility, hovering around $0.007.

Fitell’s aggressive strategy places it at the center of Solana’s growing treasury ecosystem, reflecting both the potential and risks of institutional adoption in the crypto space.