This Solana-Linked Stock Is Ripping 46% Pre-Market: What's Driving It?

Solmate Infrastructure (NASDAQ:SLMT) shares are soaring 46% in Thursday's pre-market trading after the company shared several updates related to its new data centers, its mergers and acquisitions and its financing strategies.

SLMT shares are climbing with conviction. See the complete data here.

What’s Going On With Solmate?

The Solana (CRYPTO: SOL)-based cryptocurrency infrastructure company said it has selected a new data center in the United Arab Emirates to house its bare metal Solana validators.

In addition, the firm launched a “aggressive” M&A strategy, looking for opportunities across the Solana value chain and boost the SOL-per-share growth.

The company also secured an amendment to its registration rights agreement for a $300 million private investment in public equity offering, giving it “maximum flexibility” in the completion and announcement of new infrastructure.

A Strategic Bet On Solana’s Ecosystem

Solmate Infrastructure is the new operating name of Brera Holdings PLC, reflecting its pivot to a SOL-centric policy.

Earlier this month, it purchased $50 million worth of SOL, with the profits expected to power the company’s Solana infrastructure.

Price Action: At the time of writing, SOL was exchanging hands at $188.03, up 1.51% in the last 24 hours, according to data from Benzinga Pro.

Brera shares were up 46.35% in pre-market trading after closing 13.11% lower at $8.350 during Wednesday’s regular trading session. The stock has gained over 19% in the last six months.

Benzinga’s Edge Stock Rankings indicate that the stock lags over the short, medium, and long terms. How does the stock compare with Forward Industries Inc. (NASDAQ:FORD) and other SOL-based treasury companies? Visit Benzinga Edge Stock Rankings to find out.