SUNation Energy (SUNE) said late Tuesday that its board approved the inclusion of bitcoin as an asset in its treasury management program to diversify its holdings.
The company plans to allocate up to 30% of its excess cash, calculated based on its estimated six-month operating expenses, toward BTC purchases.
The company's treasury holdings are currently "limited" to US dollars. The initiative also aligns with the company's goal to enable bitcoin as a payment option for customers and suppliers.
Shares of SUNation fell more than 7% in premarket activity Wednesday.
Price: 2.30, Change: -0.18, Percent Change: -7.26
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