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NEW YORK - Classover Holdings, Inc. (NASDAQ:KIDZ)(NASDAQ:KIDZW), a $67.28 million market cap education technology company, has increased its Solana (SOL) treasury reserve by approximately 295% since June 12, bringing its total holdings to 52,067 SOL tokens, the company announced Wednesday.
The education technology firm has staked approximately 75% of these holdings with institutional-grade validators, a strategy aimed at generating yield while supporting the Solana blockchain’s security and decentralization. According to InvestingPro data, this move comes as the company faces profitability challenges, with negative earnings per share of -$0.08 in the last twelve months.
"This expansion reflects our strong conviction in the long-term potential of the Solana ecosystem," said Ms. Luo, CEO of Classover, in a press release statement.
Classover, which specializes in live, interactive online learning for K-12 students, has positioned this move as part of its broader technology and capital allocation strategy. The company indicated it plans to continue accumulating SOL as a core long-term holding.
Founded in 2020 and headquartered in New York, Classover offers various educational programs ranging from creativity-driven courses to test preparation.
The company’s announcement comes amid growing interest from businesses in diversifying treasury holdings to include digital assets. By staking a significant portion of its SOL tokens, Classover aims to earn passive rewards while participating in the blockchain’s validation process.
The financial terms of the SOL acquisitions were not disclosed in the announcement.
In other recent news, Classover Holdings Inc. has entered into a significant financial agreement with Solana Growth Ventures LLC, involving up to $500 million in senior secured convertible notes. This move is part of Classover’s strategy to develop a Solana-based treasury reserve. The agreement includes an initial closing and funding of $11 million, with the company planning to allocate up to 80% of the proceeds towards purchasing Solana (SOL). Additionally, Classover’s previous $400 million equity purchase agreement increases its potential financing capacity to $900 million for this initiative. On another front, Classover has announced an increase in the annual salary of its Chief Financial Officer, Yanling Peng, to $156,000, effective May 1, 2025. This decision was approved by the Board of Directors and Compensation Committee and disclosed in a Form 8-K filing with the SEC. The filing serves as a formal announcement of significant corporate changes, such as executive compensation adjustments. These developments highlight Classover’s ongoing financial strategies and corporate governance actions.
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