SolarBank to Use Geddes Project Proceeds for Bitcoin Purchases

SolarBank Corporation (NASDAQ:SUUN) announced that it is beginning to carry out its recently announced Bitcoin treasury strategy, first disclosed on June 3rd. The company is using the net cash flow from its Geddes Solar Power Project to purchase Bitcoin.

With this move, SolarBank Corporation (NASDAQ:SUUN) becomes one of the early renewable energy firms to embrace a Bitcoin-focused treasury approach, aligning itself with other companies that have already incorporated Bitcoin into their financial holdings. In addition, the company is considering applying this strategy to other solar and battery storage projects it is developing, particularly those it plans to retain ownership of as an independent power producer.

SolarBank to Use Geddes Project Proceeds for Bitcoin Purchases

Solar panel workers installing a new farm for clean energy generation.

The Geddes Project is a 3.79 MW solar initiative repurposing a landfill, contributing to SolarBank’s 1+ GW pipeline. It’s expected to be operational by June 2025, with Bitcoin allocation details to follow after launch.

Dr. Richard Lu, President & CEO, and Director of SolarBank Corporation (NASDAQ:SUUN), made the following comment:

“I am pleased we are moving forward with the first step in our Bitcoin treasury strategy. Geddes is the largest power producing assets that SolarBank will have operational and this strategy provides a sustainable way to add Bitcoin to SolarBank’s balance sheet. By converting solar energy revenue into digital assets, we’re creating a unique value proposition that combines the stable cash flows of renewable energy with the potential appreciation of Bitcoin, while supporting grid decarbonization and distributed energy resources (DER) expansion.”

SolarBank Corporation (NASDAQ:SUUN) is an independent company that develops and owns renewable and clean energy projects, specializing in distributed and community solar initiatives across Canada and the United States.

While we acknowledge the potential of SUUN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: Why These Energy Stocks Are Losing This Week and 20 Best Dividend Growth Stocks with High Yields

Disclosure. None.