DigitalX Turbocharges Solana Strategy with Strategic Board Shake-Up

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Hassan Shittu

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Hassan Shittu

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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

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May 19, 2025

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Aussie-listed blockchain investment firm DigitalX Limited has reinforced its Solana acquisition strategy with a board overhaul, adding industry heavyweights to support its rapid expansion into Solana staking and infrastructure.

The move marks an important turning point for the company, which is quietly becoming a dominant institutional player in the Solana ecosystem.

Since November 2024, DigitalX has been aggressively accumulating SOL, and now holds 83,279 SOL, ranking it among the top five public holders of Solana globally.

As of today, DigitalX holds ~83,000 SOL and has ~319 in BTC exposure, alongside AUD$6.4 million in other digital assets. It is trading nearly 1:1 with its Net Asset Value (NAV), at a NAV of ~$49 million and a market cap of just over $50 million.

Aside from digital asset-focused ETFs, DigitalX is the only Australian-listed crypto company.

New Board Appointments Signal ShiftToward Solana and Global Markets

According to the announcement published on May 19, 2025, Leigh Travers and Ieva Guoga have been appointed non-executive directors.

Travers, former CEO of both Binance Australia and DigitalX, now leads capital markets at Animoca Brands and brings deep operational and strategic experience across ASX, NASDAQ, and CSE-listed digital firms.

Ieva Guoga is a rising force in Solana infrastructure. She is currently working with SOL Strategies Inc., a Canadian-listed blockchain firm known for its high-performance validator network.

She is also the daughter of Antanas Guoga, aka Tony G, the chairman of SOL Strategies, adding another layer of strategic synergy between the two firms. Her involvement deepens DigitalX’s alignment with Solana’s core infrastructure, especially its validator ecosystem.

Outgoing Chair Toby Hicks and Director Davide Bosio have stepped down, while the new appointees have been granted 10 million options each, exercisable at AUD $0.10 within five years. This further indicates long-term alignment with shareholder value creation.

DigitalX Powers Up Solana Exposure, Positions as Institutional Gateway

DigitalX’s strategic moves come amid a broader resurgence in digital asset markets, with Solana increasingly viewed by institutions as a foundation for real-world blockchain applications and yield generation. The company’s approach aligns with trends of diversifying exposure to Bitcoin and high-conviction Layer 1 assets like Solana.

Notably, through its recent partnership with SOL Strategies, the company stakes its SOL holdings with a validator network optimized for uptime and yield, turning its assets into a regulated, revenue-generating staking operation.

According to the announcement on May 12, BitGo, one of the most trusted names in institutional crypto security, handles custody of these assets.

Additionally, the partnership between DigitalX and SOL Strategies coincides with the tie-up with Superstate’s Opening Bell, which will enable SEC-registered public shares to be issued and traded directly on blockchains, starting with Solana. The new product is awaiting regulatory approval.

SOL Strategies became the first company to list its shares via the system, underscoring the growing convergence between public markets and digital assets.

DigitalX’s latest acquisition of nearly 19,000 SOL, funded by proceeds from its recently closed DigitalX Fund (DXF), brought its total holdings to over 83,000 SOL as of early May. The company expects to generate a 7–9% annualized yield, translating to approximately AUD $350,000 in additional annual revenue at current prices.

Interim CEO Demetrios Christou highlighted that this move represents a strategic shift from passive Bitcoin holdings to yield-generating blockchain participation, reflecting high conviction in Solana’s long-term potential.

However, despite holding a high-value digital asset portfolio and generating AUD 2.5 million in annual recurring revenue from its fund management arm, DigitalX continues to trade close to its NAV, a valuation gap that increasingly looks unsustainable.

The company’s financials for the half-year ended December 2024 show a 36.3% increase in revenue and a 3% reduction in operational expenses, with a narrowing operating loss and a 24.9% increase in net assets compared to June 2024. These improvements, driven by staking activities and cost discipline, are moving DigitalX closer to breakeven and potential profitability.

With operational costs decreasing, revenue growing, and digital asset holdings expanding, DigitalX is transitioning from a quiet digital asset fund into a key institutional access point to the Solana economy. Its peers, including SOL Strategies, have seen valuations surge on similar strategic pivots. If history repeats, DigitalX may be poised for a re-rating as investor awareness catches up with fundamentals