Australian company Fitell has purchased 216.8 million PUMP tokens for $1.5 million, signaling a major step in its expansion into the crypto space. Previously, the firm raised $100 million to invest in Solana-based projects, while its own market capitalization remains under $7 million.
The PUMP token is part of the pump.fun platform, designed to launch meme coins within the Solana ecosystem. According to CEO Sam Lou, the acquisition reflects Fitell’s strategy to diversify its digital asset holdings and strengthen its involvement in Solana’s growth. Lou emphasized the company’s focus on long-term opportunities that could benefit shareholders.
Over the past month, PUMP surged more than 80%, reaching $0.007, according to TradingView. Its market capitalization now stands at around $2.5 billion. Analysts attribute this growth to renewed interest in Solana meme coins, new streaming features, and regular token buybacks.
Funding for these purchases came from a convertible bond issuance of up to $100 million in September 2025, from which $10 million has already been used to acquire Solana tokens. Despite aggressive crypto acquisition plans, Fitell’s own market capitalization currently sits at $6.8 million, and its stock fell 15% to $5.14 per share following the announcement.
Originally focused on online fitness equipment sales, Fitell now plans to rebrand as Solana Australia Corporation and position itself as a key player in digital assets. The company intends to use Solana token placements in structured products to generate revenue and expand its presence in the crypto market.
This move comes amid broader trends in tokenized assets, following similar initiatives such as Forward Industries’ plan to tokenize shares on the Solana blockchain.
