Top 5 Publicly Traded Firms Betting Big on Solana Treasuries
Following the trend set by Michael Saylor's Strategy (formerly MicroStrategy) with Bitcoin, several publicly traded firms have adopted Solana (SOL) treasury strategies, collectively holding over $1 billion worth of SOL. Forward Industries leads with 7,044,079 SOL, acquired via a $1.65 billion PIPE deal backed by Galaxy Digital, Jump Crypto, and Multicoin Capital. The firm stakes all its SOL, earning $4.6 million in Q4 2025, and later attempted to acquire other Solana treasury firms like Solana Company and SkyAI. Upexi holds 2,361,931 SOL, raised through $300 million in equity and convertible notes, but its stock has dropped over 96% from highs. DeFi Development Corp. (2,294,576 SOL) expanded into validator operations and launched a meme coin DONT, facing insider trading allegations. Solana Company (formerly Helius Technologies) holds 2,071,127 SOL via a $500 million PIPE, and SkyAI (formerly Sharps Technology) holds 2,000,000 SOL after a $400 million raise. These firms face significant volatility, with SOL trading around $69 in June 2026, down from earlier highs.
Key facts
- Forward Industries holds 7,044,079 SOL, staking all for yield.
- Upexi raised $300M for SOL treasury; stock down 96% from high.
- DeFi Development Corp. added validator operations and meme coin.
- Solana Company holds 2.07M SOL; shares fell 93% from peak.
- SkyAI holds 2M SOL after pivoting from medical devices to AI finance.