October 29, 2024

3 min

VanEck Brings Staking to Solana Fund

This move marks VanEck's latest step into digital assets, giving clients access to Solana’s staking rewards amid increasing institutional interest.

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What’s happening:

VanEck, a leading asset manager, has partnered with staking provider Kiln to offer staking rewards for Solana (SOL) within its European Solana fund. This initiative makes VanEck one of the first to integrate staking into a regulated fund.

Why it matters:

This collaboration enables investors to earn staking rewards in addition to the potential price appreciation of SOL, enhancing the attractiveness of VanEck's Solana fund.
VanEck's partnership with Kiln reflects a growing trend among asset managers to incorporate staking rewards into crypto investment products.
As Solana’s network matures, it will become the next large financialized ecosystem, similar to Ethereum and Bitcoin.

Key details:

VanEck's European Solana fund currently manages approximately $84 million in assets.
While European regulators have approved staking rewards, U.S. Solana ETF applications have excluded them due to regulatory restrictions.
VanEck will use its partnership with Kiln to streamline the staking process and provide a regulated option for investors to benefit more from their digital assets. Currently, Kiln manages over 2.5% of the Solana network.

What’s next:

VanEck plans to fully integrate staking into its Solana ETP offerings in Europe, with the success of this product likely shaping future developments in other markets.

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Equinix Strengthens Sustainability Efforts with $1.2B Green Bond Issuance

Equinix Strengthens Sustainability Efforts with $1.2B Green Bond Issuance

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What’s happening:

MARA (NASDAQ: MARA), a digital asset compute and renewable energy integration company, has entered into a definitive agreement to acquire a wind farm in Hansford County, Texas.
The site features 240 MW of interconnection capacity and 114 MW of operational wind generation capacity.

Why it matters:

The acquisition aligns with MARA’s goal of converting underutilized renewable energy into economic value, achieving near-zero energy costs, and promoting sustainability in the energy and digital asset sectors.
By operating a data center powered by wind energy, MARA will reduce grid congestion, enable renewable energy development, and reduce Bitcoin production costs through vertical integration.
The combination of cryptocurrency and AI data center capacity being powered by alternative energy sources will increase.
This acquisition demonstrates how innovative collaborations between energy and technology sectors can drive sustainability and open new career opportunities in green technology.

Key details:

The wind farm will support a behind-the-meter data center powered by 114 MW of wind energy, marking the first application of MARA’s Advanced ASIC Retirement Initiative.
This program repurposes retired mining hardware to extend its lifecycle with renewable energy, improving capital efficiency, reducing operating costs, and minimizing shareholder dilution.

“This acquisition serves as a blueprint for how the energy and data center sectors can collaborate to create long-term value while advancing sustainability initiatives,” said Fred Thiel, MARA’s Chairman and CEO.

What’s next:

The company plans to integrate the wind farm into its existing operations, optimizing its performance for maximum energy production.
Because of the symbiotic relationship between AI and cryptocurrency data centers, similar energy partnerships will emerge.
Subject to regulatory approval, the transaction is expected to close in Q1 2025 expanding MARA’s sustainable operations and driving further innovation in renewable-powered data centers.

Story

What’s happening:

StakeStone, a DeFi-focused platform, has raised $22 million in a funding round led by Polychain Capital. Strategic investments came from Binance Labs and OKX Ventures.

Why it matters:

This investment comes at a time when centralized exchanges have had limited token listings in 2023 and 2024. StakeStone's success could challenge this trend and encourage more listings.
Additionally, it reflects a growing interest in token-based platforms and their integration with decentralized finance (DeFi), particularly as popular gambling apps like Stake, Rollbit, and Shuffle gain traction.

Key details:

The raised funds will be used to develop liquidity infrastructure and strengthen DeFi ecosystems.
Participation from other prominent firms such as Nomad Capital, Amber Group, and Quantstamp highlights the importance of this investment.

“The team at StakeStone has been pushing the boundaries of innovation, and we believe their vision to integrate omnichain liquidity with high-performance blockchain networks is a game-changer. This partnership aligns perfectly with our investment philosophy of backing projects that will shape the future of the crypto ecosystem. We look forward to seeing the impact they will make as they scale and drive adoption on a global level”, said Olaf Carlson-Wee, CEO, Polychain Capital.

What’s next:

StakeStone aims to scale its omnichain liquidity solutions and attract a broader user base within the DeFi market.
Centralized exchanges may increasingly support and list tokens associated with these platforms.
The successful funding round positions StakeStone as a key player in the crypto gambling sector and as it continues to grow, we may see more innovations and partnerships.

Story

What’s happening:

Equinix, a leading data center and digital infrastructure company, has issued €1.15 billion (approx. $1.21 billion) in green bonds to finance projects focused on renewable energy and decarbonization.

Why it matters:

Green bonds could be a significant competitive advantage in cost of capital. With interest rates between 3.25% and 3.625%, Equinix is accessing one of the cheapest sources of financing available.
As AI and digital growth drive increased energy demands, the data center industry faces pressure to adopt sustainable practices. Equinix’s green bond issuance sets a precedent for integrating green financing into operational strategies, encouraging others in the sector to follow suit.
This move positions Equinix among the top five U.S. green bond issuers, with $6.9 billion raised to date.
The funds will support its goals to cut Scope 1 and 2 greenhouse gas emissions by 50% and achieve 100% renewable energy usage by 2030.

Key details:

The offering includes €650 million of 3.25% senior green notes due 2031 and €500 million of 3.625% senior green notes due 2034.
Funds will be allocated to projects under Equinix's Green Finance Framework, covering green buildings, renewable energy, energy efficiency, resource conservation, decarbonization solutions, and climate change adaptation.
According to the International Energy Agency report, data centers consumed 460 TWh in 2022, with consumption potentially doubling by 2026. This underscores the urgency of sustainable initiatives.

“We view green finance as an integral part of our sustainability strategy at Equinix. Our green bonds demonstrate Equinix’s continued commitment to design, build, and deliver the most reliable, secure, and sustainable data center and digital infrastructure possible in order to benefit our customers, our investors, and the communities in which we operate,” stated Katrina Rymill, SVP Corporate Finance & Sustainability at Equinix.

What's next:

Equinix plans to use green financing to fund renewable energy and energy-efficient technologies across its global operations.
Its leadership in green bond issuances highlights the potential for broader adoption of sustainable financing practices as the data center industry balances efficiency with environmental responsibility.

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