Solmate's stock price rose by 50%, and it will build the first Solana validation node center in the Middle East and launch an aggressive acquisition strategy.

PANews, October 24th news, according to The Block report, Nasdaq-listed Solmate Infrastructure (SLMT) announced that it has selected data centers, assembled bare metal validators, and tested configurations, using SOL purchased “at a historic discount.” The company will advance the construction of a validator center in the UAE and implement an “aggressive M&A strategy,” using its SOL reserves as “fuel” for the growth of acquired businesses. Previously, Solmate completed a $300 million PIPE financing and received support from the Solana Foundation, and recently obtained $50 million in discounted SOL. The news drove the stock price to a peak of about $12.55 during intraday trading, closing up about 40% to $11.70, with a market capitalization of approximately $754 million.