SunEdison (SUNE) Announces Bitcoin Treasury Strategy

SUNation Energy, Inc. (Nasdaq: SUNE), a leading provider of sustainable solar energy and backup power solutions for households, businesses, and municipalities, today announced that its Board of Directors has approved the inclusion of bitcoin (BTC) as an asset in the Company’s treasury management program.

As part of this strategy, SUNation plans to allocate up to 30% of its excess cash, calculated based on its estimated six-month operating expenses, toward BTC purchases. This allocation will be subject to, among other factors, market conditions and the Company’s operational requirements, including in support of its planned expansion strategy.

Strategic Diversification and Innovation

Bitcoin, recognized as a decentralized store of value, has been adopted to diversify the Company’s treasury holdings, which are currently limited to U.S. dollars. Additionally, this initiative aligns with SUNation’s goal to enable BTC as a payment option for its customers and suppliers as part of its core mission to make solar more accessible.

Scott Maskin, Chief Executive Officer and Founder of SUNation Energy, commented:

"We acknowledge the growing global acceptance of Bitcoin, which has been bolstered by substantial capital inflows in 2024. Across sectors, public and private companies, financial institutions, institutional investors, and even governments are integrating Bitcoin into their financial and commercial strategies as a hedge against inflation, macroeconomic instability, and geopolitical risks facing the global economy. We are excited to adopt this strategy which we believe will help position SUNation as a leader in the New Energy Economy.”

Sustainable Energy for the Digital Economy

Mr. Maskin further noted:

"As a leader in sustainable solar energy, SUNation Energy is uniquely positioned to support the evolving, energy-intensive digital economy with more efficient, resilient, and sustainable energy solutions. By leveraging our ability to produce clean, green energy, we can help mitigate the environmental impact of owning digital currencies. Our BTC treasury strategy not only positions us as a forward-thinking company but also offers institutional investors an opportunity to gain BTC exposure per diluted share while supporting a sustainable energy future.”

Expanding Sustainable Solutions in the Cryptocurrency Sector

Since 2003, SUNation has been designing, developing, and providing solar energy solutions tailored to customers in the information technology and technology sectors. The Company believes this BTC initiative further solidifies its role in supporting the new digital economy and its expanding energy needs in an environmentally conscious manner.

For more information about SUNation Energy and its commitment to innovation, sustainability, and growth, please visit sunation.com/corporate.

Additional details regarding SUNation’s BTC treasury strategy can be found in the Company’s Prospectus Supplement, as amended, to be filed with the U.S. Securities and Exchange Commission on or about January 7, 2025.

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