Education Giant Dives Into Crypto With Massive Solana Reserve

Online education provider Classover has made a dramatic pivot into cryptocurrency, announcing plans to build a Solana reserve through a $500 million convertible note offering. The K-12 learning platform revealed that 80% of proceeds — approximately $400 million — will fund SOL purchases, marking one of the largest corporate crypto allocations in the education sector.

Market Responds With 46.5% Intraday Jump

Investors cheered the strategic shift, sending Classover's Nasdaq-listed shares (KIDZ) soaring 46.5% to $5.45 on June 3. The rally came just after the company's initial purchase of 6,472 SOL (worth $1.1 million) through its partnership with Solana Growth Ventures. When combined with an existing $400 million equity agreement, the move potentially gives Classover $900 million in Solana purchasing power.

Why Corporations Are Flocking to Solana

——This isn't just about diversification—— noted a blockchain analyst familiar with the deal. ——Public companies are discovering SOL reserves can simultaneously hedge against inflation and attract crypto-savvy investors——. The trend has gained momentum since April, when Upexi's similar announcement triggered a 630% stock surge.

Validator Revenue Models Gain Traction

Classover joins Canadian firm SOL Strategies in exploring Solana-based revenue streams. The latter recently reported validator and staking income growth while seeking regulatory approval for a $1 billion SOL staking fund. 【Industry data】 shows Solana's total value locked (TVL) has rebounded 217% from 2023 lows, making it an increasingly popular corporate treasury asset.

Education technology analysts suggest Classover's move reflects broader sector pressures. ——With traditional edtech growth slowing—— observed a Shanghai-based fund manager, ——crypto strategies offer both financial engineering opportunities and narrative appeal to growth-focused investors——.

Convertible Notes Structure Explained

The senior convertible notes allow holders to exchange debt for equity at predetermined prices, creating potential upside if SOL appreciates significantly. This hybrid instrument has become favored by companies entering crypto — offering capital flexibility while minimizing immediate shareholder dilution.

As of press time, Solana trades at $170, with its price having stabilized after May's network congestion issues. Market watchers will monitor whether Classover's bet pays off as it balances education technology fundamentals with its new crypto ambitions.