Mangoceuticals to pursue Solana-based DAT strategy… up to $100 million

U.S. Nasdaq-listed company Mangoceuticals (Mangoceuticals) is pursuing a digital asset treasury (DAT) strategy centered on the Solana (SOL) ecosystem.

According to GlobeNewswire on the 19th (local time), Mangoceuticals announced it will work with digital asset manager Cube Group to pursue a Solana-based DAT strategy of up to $100 million. DAT is a method by which a company strategically accumulates and manages virtual assets, and for this purpose the company established a subsidiary, Mango DAT.

Asset management will be handled by Cube Group, founded by former Solana core developers. Mangoceuticals plans to reflect earnings from Solana staking in the treasury without shareholder dilution, and presented a target SOL-denominated annual return of around 7-8%.

Jacob Cohen, CEO of Mangoceuticals, said, "The Solana-focused DAT strategy is an important evolutionary step in the company's long-term value-creation strategy," and added, "It will allow us to reflect the growth potential of digital assets in the treasury while maintaining a non-dilutive structure."