[DigitalToday reporter Jinju Hong (홍진주)] Japan-listed game company Enish (Enish) has sold all of its bitcoin (BTC) holdings and moved to strengthen a Solana (SOL)-centred digital asset management strategy. The move is seen as an attempt to shift away from a balance-sheet strategy focused on simple holdings and toward revenue-generating business models such as staking and validator operations.

Blockchain media outlet CoinPost reported on Tuesday, local time, that Enish said on Monday it had sold all 8.063 BTC it held. The company also disclosed it had started strategic talks with Solana ecosystem infrastructure company SOL Planet (SOL Planet).

The bitcoin sale amount was about 79.27 million yen. Enish plans to recognise a sale loss of about 6.22 million yen, the difference from the bitcoin valuation of about 85.49 million yen as of end-March 2026. The loss will be reflected as non-operating expenses in the second quarter of the fiscal year ending December 2026.

Enish acquired a total of 8.063 BTC in April 2025 as part of its financial strategy. The acquisition amount at the time was about 104 million yen. The company said the sale was to secure investment funds to pursue its "Active Treasury" business, with Solana as the core asset.

The company announced on June 3 its "DAT 2.0" (Digital Asset Treasury 2.0) strategy, an upgraded version of its existing digital asset management model. While "DAT 1.0" relied on valuation gains from rises in cryptocurrency prices, the new strategy focuses on generating sustained revenue through staking and participation in network operations.

As part of the strategy shift, Enish is reviewing possible cooperation with SOL Planet, a Solana validator specialist. The two sides are reported to be in talks focused on how to use the "Solplanet White Label Validation Program."

SOL Planet, founded in 2025, supports the building and operation of Solana validators and runs an advisory business on digital asset treasury strategies. The program is an enterprise infrastructure solution that helps companies build and operate Solana validators under their own brands.

Enish is also reported to be reviewing not only validator operations but also staking, delegation structure design, management of on-chain operational data, and ways to secure delegated volumes within the ecosystem.

Its funding structure is also being reorganised to fit the Solana-centred strategy. The company said it plans to use proceeds not only from this bitcoin sale but also funds secured through third-party allotment stock acquisition rights and unsecured bond issuance announced in April to expand the Active Treasury business.

The market sees the decision as having meaning beyond a simple replacement of held assets. It is an attempt to shift away from a strategy of holding bitcoin in expectation of price rises and toward a business-type digital asset model based on blockchain network operations and staking income.

A key point to watch is whether Enish will actually enter the Solana validator operations business. The company said it is currently reviewing the impact the Active Treasury business will have on performance.

The industry views Enish's digital asset strategy results as likely to depend on how quickly funds secured through the bitcoin sale are converted into revenue-generating infrastructure businesses within the Solana ecosystem.