tl;dr
Skycorp Solar Group Limited, a Chinese solar cable manufacturer, saw its shares rise 8.39% after announcing plans to buy Ethereum (ETH) as part of its digital asset treasury strategy, funded by cash reserves and renewable energy returns. Starting August 1, it will accept Bitcoin, Ethereum, and stabl...
Skycorp Solar Group Limited (PN), a Chinese manufacturer of solar cables and connectors, saw its shares climb 8.39% following the announcement to buy Ethereum (ETH) as part of its long-term digital asset treasury management strategy. This move reflects the growing institutional interest in Ethereum, as public companies worldwide increasingly integrate this digital asset into their financial frameworks.
In its release, Skycorp Solar stated it will finance ETH purchases using partial cash reserves and returns from renewable energy projects. From August 1, the company will also accept Bitcoin (BTC), Ethereum, and stablecoins like USDC and Tether for international transactions. These payments will be managed by licensed RWS providers specializing in blockchain forensics and will comply with regulatory guidelines from the Monetary Authority of Singapore (MAS) and the Financial Action Task Force (FATF).
Chairman and CEO Weiqi Huang highlighted the GENIUS Act as a regulatory foundation creating trust and stability for digital payments. He emphasized that investments in clean energy infrastructure and ETH staking are aligned with long-term growth prospects. Following the announcement, Skycorp Solar’s stock rose to $3.10 but later reversed gains in pre-market trading, dropping 6.13%.
The interest in Ethereum among public companies is intensifying. SharpLink Gaming has amassed over 360,000 ETH valued above $2 billion, while Cathie Wood’s Ark Invest recently acquired more than 4 million shares of BitMine Immersion Technologies, which plans to use proceeds from stock sales to increase ETH holdings. Analyst Tom Lee applauded Ark’s substantial stake as recognition of Ethereum’s exponential opportunity.
A new contender, The Ether Machine, plans to go public with over 400,000 ETH on its balance sheet, potentially becoming the largest publicly traded vehicle offering institutional-grade Ethereum exposure. Backed by $1.5 billion in committed capital, the firm aims to generate returns through Ethereum staking, restaking, and decentralized finance strategies. Co-founder Andrew Keys described assembling a team of ‘Ethereum Avengers’ to maximize yields and lead the market in return performance.
According to the Strategic ETH Reserve, firms currently hold a total of 1.87 million ETH, valued near $7 billion, illustrating the significant momentum behind institutional Ethereum investment. The landscape is clearly evolving as more public companies step up their commitment to Ethereum, reshaping their treasury management and payment systems around this digital asset.