Top Five Publicly Traded Solana Treasury Firms Hold Nearly $2 Billion in SOL
The five largest publicly traded companies holding Solana (SOL) treasuries collectively own close to $2 billion in the cryptocurrency.
Forward Industries leads with 6,921,432 SOL, valuing its treasury at around $865 million. The company raised $1.65 billion via private investment in public equity (PIPE) to establish this treasury and earned about $4.6 million in staking revenue in Q4. It plans to raise an additional $4 billion to continue acquiring Solana. Forward has also tokenized its shares on the Solana blockchain and counts Galaxy Digital, Jump Crypto, and Multicoin as backing partners.
Solana Company (formerly Helius Technologies) holds 2,200,000 SOL with a treasury valued near $275 million. It raised $500 million via PIPE, with shares rising approximately 141% after the raise. The company generated $342,000 in staking revenue in Q3 and had around $124 million cash on hand at the end of Q3.
DeFi Development Corp owns 2,195,926 SOL (about $275 million), making it the second-largest Solana treasury. It has acquired a Solana validator and collaborates with projects such as BONK. In June, it secured a $5 billion equity line of credit and in December supported the SIMD proposal aimed at lowering inflation.
Upexi holds 2,106,989 SOL valued at roughly $263 million. Its shares surged about 300% after an April raise, with total fundraising of $300 million split between an initial $100 million and a later $200 million. The average purchase price was $151.44. In August, Arthur Hayes joined its advisory committee, and in December, the CEO purchased 150,000 shares worth about $285,000.
Sharps Technology owns 2,000,000 SOL, approximately $250 million in value. It planned a $400 million raise, leading shares to jump around 40%. The company purchased 2 million SOL with the raised proceeds. Although initially starting with a treasury around $400 million, it now holds about $250 million. Marketed as a Solana accelerator, Sharps Technology has not provided immediate comments regarding its SOL denomination.
