Michael Thaler popularized digital asset treasury when his company, Strategy, Inc. started buying. Bitcoin In 2020, it collected $59 billion worth of BTC in the years since then, attracting a large following.
Currently, listed companies are lowering the risk curve and adding various crypto tokens such as Ethereum and XRP to their balance sheets.
This includes creating a financial strategy centered around: Solanathe 7th largest crypto asset by market capitalization. Solana is a popular destination for token trading and internet capital markets, and the network has attracted the attention of several publicly traded companies.
Solana Financial giants have already acquired nearly billions of dollars worth of SOL. Let’s take a look at the top 5 public companies betting on Solana based on current stock holdings.
1. Forward Industries – 6,921,432 SOL
Forward Industries, a publicly traded medical design company, currently holds the largest Solana treasury with 6,921,432 SOL. Despite dropping $1.6 billion to recoup most of it in September. With this latest update, the company’s financial value plummeted to $865 million.
The company is propelled by funding from major crypto players such as Galaxy Digital, Jump Crypto, and Multicoin Capital, and just days before acquiring the Solana stash, it raised $1.65 billion through a public equity investment (PIPE) to form a Treasury.
Forward aims to differentiate its treasury from other companies by promoting a combination of on-chain and open market trading, increasing on-chain participation and providing more effective execution for shareholders. The company keeps all of SOL’s money in its own treasury, benefiting its business and shareholders. In the fourth quarter, so far Staking income is approximately $4.6 million, According to the December update.
After making a splashy acquisition, the company announced its intentions to: Raise another $4 billion for Solana acquisition For that treasure trove. That’s recently Tokenized company stock on the Solana blockchain.
2. Solana Company – 2,200,000 SOL
Publicly traded medical device company Helius Technologies has changed its name to Solana Company as it embraces a digital asset financial strategy centered around SOL.
company First announcement of plans to raise $500 million Through a PIPE offering led by prominent crypto firms Pantera Capital and Summer Capital in mid-September.
In less than a month, it used that money to accumulate more than 2.2 million SOL, quickly becoming Solana Treasury, the second-largest publicly traded company. The company’s treasury, once worth about $500 million, is now worth about $275 million.
The company’s stock price rose 141% after the initial capital increase announcement, but fell back after the initial purchase. Despite HSDT gaining more than 220% in the month following the strategy change, it is still down about 99% year-to-date.
In the third quarter, the company brought in revenue for the first time from staking rewards, with net income of $342,000. The company had $124 million in cash at the end of the quarter.
3. DeFi Development Corp. – 2,195,926 SOL
DeFi Development Corporation, a real estate software company turned Solana treasury company, is the second-largest publicly traded Solana treasury company, narrowly ahead of the other two companies at the bottom of the list.
The company has just under 2.2 million SOL, equivalent to nearly $275 million at current Solana prices, and has been accumulating that amount through various purchases since establishing its financial strategy in April.
DeFi Development Corp. is one of the most active financial companies on the list and is penetrating deeper and deeper into the Solana community. Through the acquisition of the Solana validator company Collaborations with major meme coins like BONK are also possible.
In June, Established $5 billion capital credit facility Drive strategic Solana purchases. In December, Publicly express support for new Solana improvement proposals (SIMD) This will reduce the network inflation rate and reduce the annual production of SOL tokens.
4. Upekshi – 2,106,989 SOL
Consumer products company Upexi also debuted its Solana financial strategy in April, sending Solana stock soaring. UPXI 300% or more In the process. These shares have since fallen significantly, going from a 52-week high of $22.57 to a recent price of $2.08.
What started as $100 million to facilitate the purchase of Solana has now grown to more than $2.1 million, or approximately $263 million worth of Solana.
After the first increase, the company Add another $200 million Through equity issuance and convertible debt, it marked a total raise of $300 million, which was ultimately used to acquire the current SOL stack. Average price $151.44 per token. Total government debt is down about 9%, according to data on the company’s dashboard.
In August, the company We have established a new advisory committee. With the addition of BitMEX co-founder and crypto billionaire Arthur Hayes as our first member, we aim to be the next catalyst for growth.
to show his stuff Commitment to company missionCEO Alan Marshall announced in December that he had purchased 150,000 shares of UPXI, valued at about $285,000.
5. Sharp Technology – 2,000,000 SOL
Medical device maker Sharps Technology formulates funding plan $400 million to Solana Treasury In late August.
The company’s stock price soared more than 40% on the news. A week later, the company used the proceeds to complete an acquisition worth “more than 2 million SOL,” gaining about $400 million in seed capital in the process. A company representative did not immediately respond. of decryption Questions regarding specific SOL denominations.
Today, that 2 million SOL is worth about $250 million.
As it builds out its treasury division, it will rely on a team with “deep ties to the Solana ecosystem and a founder-level track record of scaling institutional digital asset platforms,” said Alice Chan, the company’s chief investment officer.
The medical device company, which now calls itself the Solana Accelerator Company, still features product information for its drug delivery products on the home page of its website.
Editor’s note: This article was originally posted on September 16, 2025 and last updated on December 21.
