As of September 29, 2025, the total holdings of SOL in the Solana treasury established by 18 entities reached 20.921 million tokens, accounting for 3.64% of SOL's current total supply. Among these, approximately 12.468 million SOL tokens have been staked, with an average staking yield of 7.7%, representing 2.168% of the total supply.
This article provides a brief overview of the main businesses of the 18 companies holding SOL and their latest developments in the cryptocurrency field.
1. Forward Industries (FORD)
$Forward Industries (FORD.US)$ Founded in 1961 and headquartered in Hopewell Junction, New York, Forward Industries and its subsidiaries are primarily engaged in the design, manufacture, procurement, marketing, and distribution of carrying and protective solutions. The company operates through two divisions: OEM Distribution and Design. The OEM Distribution division sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits, as well as portable electronic and non-electronic products such as sports and leisure goods, barcode scanners, GPS positioning devices, tablets, and firearms. The Design division offers hardware and software product design and engineering services. Forward Industries sells its products to original equipment manufacturers in the United States, Poland, Germany, China, and internationally.
On September 22, Forward Industries announced a collaboration with fintech firm Superstate to tokenize Forward Industries (FORD) stock on Solana via Superstate’s Opening Bell. If the plan proceeds, shareholders will be able to link their common shares between brokerage accounts and Solana, potentially enabling round-the-clock trading, near-instant settlement, and access to new global liquidity pools. On September 17, Forward Industries announced the filing of a $40 billion ATM program with the U.S. SEC to fund its Solana treasury strategy. This initiative will support general corporate purposes, including the continued implementation of the Solana strategy, the purchase of income-generating assets, and other capital expenditures.
On September 8, Forward Industries announced a $1.65 billion private placement to support its Solana treasury strategy.
Kyle Samani, Chairman of the Board of Forward Industries, stated that the company’s series of actions reinforce their belief that Solana will occupy a central role in capital markets, allowing shareholders to directly participate in the future tokenized economy.
Following the announcement of the Solana treasury strategy, the company’s stock price surged to nearly $40 at its peak and was last trading at $28.77 at the time of writing.
2.Sol Strategies (CFRF)
$SOL Strategies (STKE.US)$ is a Canadian publicly traded company focused on investment and infrastructure services within the Solana blockchain ecosystem. The company was founded in 2018 under the former name Cypherpunk Holdings, with founder Antanas Guoga. CEO Leah Wald, who assumed office in 2024, spearheaded the company’s full transition into the Solana space. On September 23, Leah Wald announced her resignation effective October 1.
On September 24, SOL Strategies announced that it had conducted a private placement financing of $25 million through the sale of common shares and common share purchase warrants, in compliance with the Canadian Securities Administrators’ prospectus exemption requirements for listed issuers. Canaccord Genuity Corp. will act as the lead agent and sole bookrunner. Proceeds from the offering will be used for general corporate purposes and digital asset investments to drive growth in the SOL treasury.
On July 29, ARK Invest, led by Cathie Wood, announced its selection of Canadian SOL Strategies as the exclusive Solana staking partner for its 'Digital Assets Fund.' Under the agreement, ARK Invest will migrate its validation node operations to SOL Strategies' staking infrastructure.
3.Sharps Technology (STSS)
$Sharps Technology (STSS.US)$ , founded in 2017 by Alan R. Blackman and Barry B. Berler, is a medical device company specializing in the research, development, and commercialization of smart safety syringes.
On September 16, Sharps Technology announced a partnership with community-driven platform BONK to utilize BONK’s liquid staking infrastructure for staking a portion of its held SOL tokens on its BonkSOL platform to seek staking rewards.
On September 11, Sharps Technology entered into a strategic partnership with Pudgy Penguins aimed at enhancing exposure and connectivity for Solana-based digital asset management while accelerating institutional adoption of the Pudgy Penguins NFT collection.
On August 25, Sharps Technology announced the completion of over $400 million in PIPE private financing, planning to establish the world's largest Solana (SOL) digital asset treasury. Investors include ParaFi, Pantera, Monarq, and others, and they have signed a letter of intent with the Solana Foundation to purchase $50 million worth of SOL at a 15% discount based on the 30-day average price.
4.DeFi Development (DFDV)
$DeFi Development (DFDV.US)$It is a company focused on the blockchain and cryptocurrency sector, originally founded as Janover Inc. in 2018, initially a B2B fintech company operating a platform that connects commercial real estate borrowers and lenders, and renamed DeFi Development Corp. in April 2025.
On September 24, DeFi Development announced that it has been approved to conduct a stock buyback of 100 million dollars.
On September 18, DeFi Development purchased an additional 62,745 SOL, valued at approximately 14.6 million USD, bringing the total amount of SOL held by the company to over 2 million.
On September 5th, DeFi Development announced the launch of the ".dfdv" domain service, allowing individuals, projects, and institutions to register personalized digital identities under this domain and use them as digital wallet addresses.
On August 27, DeFi Development joined the stablecoin network Global Dollar Network.
5.Upexi (UPXI)
$Upexi (UPXI.US)$ Founded in 2018 as Grove, Inc., the company was renamed Upexi, Inc. in August 2022. Upexi initially operated as a producer and distributor of CBD extracts derived from cannabis plants, focusing on the production and sales of health and wellness products. Through a series of acquisitions, its business scope expanded to include consumer brand operations and SaaS programmatic advertising technology, with product lines spanning multiple consumer scenarios such as health care and pet care. Starting in 2025, the company shifted its focus to Bitcoin and cryptocurrencies, establishing a digital currency holding company to capture cryptocurrency investment opportunities. In April 2025, Upexi announced a $100 million financing round led by renowned crypto market maker GSR, with approximately 95% allocated for setting up and operating Solana treasury reserves.
On August 12, Arthur Hayes, co-founder of BitMEX, became the first member of Upexi's Advisory Board. The Upexi Advisory Board will drive strategic planning, enhance market visibility, and introduce additional capital to Upexi's SOL treasury.
On May 13, Upexi announced that it had reached $1 billion in Solana assets under custody through BitGo, enabling over-the-counter (OTC) trading and staking activities.
6. Solmate (BREA)
$Brera Holdings (BREA.US)$ Founded in 2022 as Brera Holdings, which originally focused on being a sports holding company managing multi-club operations and listed on Nasdaq. After its transformation, Solmate plans to accumulate and stake SOL while developing revenue-generating cryptocurrency infrastructure in the UAE, including deploying bare-metal servers configured as Solana validator nodes in Abu Dhabi.
On September 18, Brera Holdings announced its rebranding to Solmate and raised $300 million to launch its SOL treasury. Investors included UAE-based technology and blockchain advisory firm Pulsar Group, the Solana Foundation, RockawayX, and ARK Invest, among others. Former Kraken Chief Legal Officer Marco Santori will serve as Solmate’s CEO.
7. Mercurity Fintech (MFH)
$Mercurity Fintech (MFH.US)$ A blockchain-driven fintech group founded in July 2011.
On July 22, Mercurity Fintech Holding Inc. announced the launch of a share repurchase program of up to USD 10 million to reinforce confidence in its Solana and Bitcoin financial strategies and enhance shareholder value.
On July 21, Mercurity Fintech Holding Inc. announced that it had entered into a securities purchase agreement with institutional investors to raise USD 43.7 million through a registered direct offering. The proceeds will be used to advance the company’s crypto-financial strategy, including ecosystem staking, tokenized yield instruments, and the development of institutional-grade on-chain financial infrastructure.
On July 21, Mercurity Fintech Holding Inc. announced a USD 200 million equity credit agreement with Solana Ventures Ltd. to initiate a digital asset treasury strategy based on the Solana blockchain.
On June 11, Mercurity Fintech Holding Inc. announced plans to raise USD 800 million to establish a long-term Bitcoin reserve.
iSpecimen Inc. (ISPC)
$iSpecimen (ISPC.US)$ Founded in 2009 by Christopher Ianelli, iSpecimen operates an online marketplace that provides biological samples for life science researchers worldwide. The company has developed and operates the proprietary iSpecimen Marketplace platform, which connects medical researchers in need of subjects, samples, and data with hospitals, laboratories, and other organizations possessing these resources.
On September 4, iSpecimen Inc. (ISPC) announced that multiple cryptocurrency companies had approached it with investment opportunities. The company is planning to establish a USD 200 million digital asset repository aimed at diversifying its balance sheet and supporting growth initiatives through tokenized real-world assets and top-tier cryptocurrencies.
Helius Medical Technologies, Inc. (HSDT)
$Helius Medical Technologies (HSDT.US)$ is a neurotech company focused on neurological health, founded in 2014.
On September 22, Helius Medical Technologies, Inc. announced its initial purchase of SOL as part of its digital asset strategy. The company currently holds over 760,190 SOL, with an average cost basis of $231.
On September 15, Helius, a Solana infrastructure provider, secured over $500 million in funding led by Pantera Capital and Summer Capital to establish an SOL treasury company. Joseph Chee, Chairman of Summer Capital and Vice Chairman of AMINA Bank AG, has been appointed as Executive Chairman, while Cosmo Jiang, General Partner at Pantera Capital, will serve as a board observer, and Dan Morehead, Founder and Managing Partner of Pantera Capital, will act as an advisor.
Following the launch of the SOL treasury initiative, Helius' stock price surged from around $7 to over $24.
10. Classover Holdings Inc. (KIDZ)
$Classover Holdings (KIDZ.US)$ Founded in 2020, it is an education company primarily providing online interactive live-streaming courses to K-12 students in the United States and globally. It delivers its educational services through online real-time interactive private tutoring and small group classes.
On May 1, Classover signed a $400 million equity purchase agreement with Solana Strategies Holdings LLC to launch a SOL-based financial strategy.
11. Artelo Biosciences (ARTL)
$Artelo Biosciences (ARTL.US)$ is a clinical-stage biopharmaceutical company founded in May 2011.
In August 2025, Artelo Biosciences announced the completion of a $9.475 million private placement financing to launch the Solana Reserve Strategy. Bartosz Lipiński, former Head of Engineering at Solana Labs, participated as a technical partner, with CUBE providing asset custody and DeFi execution services. Additionally, Artelo's board of directors approved the gradual expansion of this strategic investment.
On September 9, Artelo Biosciences announced a public offering of 640,924 shares of common stock at $4.40 per share, raising approximately $3 million in total.
12. Sol Global Investments Corp
$SOL GLOBAL INVESTMENTS CORP (SOLCF.US)$ is a Canadian company focused on institutional investments within the Solana ecosystem, formerly known as Scythian Biosciences Corp. In October 2018, Scythian Biosciences Corp. announced its name change to Sol Global Investments Corp.
13. Torrent Capital Ltd. (TORR.V)
$TORRENT CAPITAL LTD (TRRPF.US)$ was established in 2017 and primarily manages a portfolio of small-cap Canadian stocks, with investments mainly concentrated in the securities of publicly traded and private companies. In January 2025, the company announced the creation of a cryptocurrency portfolio and made its first purchase of SOL.
14. BIT Mining Limited (BTCM)
$BIT Mining Limited (WBAI.FTOLD.US)$ Formerly known as 500.com Limited, the company was once an online sports lottery service provider established in 2001. In April 2021, it decided to change its English name to 'BIT Mining Limited' and became a technology-driven cryptocurrency mining company, with operations spanning cryptocurrency mining, data center management, and mining equipment manufacturing.
On September 11, BIT Mining Limited announced the additional purchase of 17,221 SOL tokens to expand its growing SOL reserves. This brings the company’s total holdings to over 44,000 SOL, valued at approximately USD 9,950,000.
On August 26, BIT Mining Limited announced the launch of DOLAI—a US dollar-backed stablecoin designed to connect artificial intelligence agents, merchants, consumers, and institutional financial entities on the Solana blockchain, with plans to extend its interoperability across multiple chains.
On July 10, Bit Mining announced that it would convert its cryptocurrency holdings into Solana and raise between USD 200 million and USD 300 million to support its Solana strategy.
15.ALALO (Acheter-Louer.fr)
(Acheter-Louer.fr) is a French company primarily engaged in global marketing and publishing for real estate advertising.
16.DeFi Technologies Inc. (DEFT)
The company was founded in 1986 under the former name Valour Inc. and was renamed in July 2023 to $DeFi Technologies Inc (DEFI.CA)$ The company's co-founders include Olivier Francois Roussy Newton, Johan Wattenstrom, and others, with Olivier Francois Roussy Newton serving as Chief Executive Officer and Chairman of the Board. In July 2024, DeFi Technologies announced it is expanding its crypto portfolio by including SOL in its treasury.
On September 24, Valour, a subsidiary of DeFi Technologies, announced the launch of 13 cryptocurrency ETPs denominated in Swedish krona on the Swedish Spotlight Stock Market.
On September 18, Valour Digital Securities Limited, a subsidiary of DeFi Technologies, announced the launch of "1 Valour Bitcoin Physical Staking," a physically-backed Bitcoin staking exchange-traded product on the London Stock Exchange, offering investors unique exposure to Bitcoin staking returns. The product is backed 1:1 by physical Bitcoin.
On May 20, DeFi Technologies announced a strategic partnership with Fire Labs to launch a compliant stablecoin issued by a U.S.-licensed bank, officially entering the realm of Real World Assets (RWA).
17.Neptune Digital Assets Corp (NDA.V)
$Neptune Digital Assets Corp (NDA.CA)$ Founded in 2017, Neptune Digital Assets Corp is a Canadian blockchain company primarily engaged in cryptocurrency mining, Proof-of-Stake (PoS) staking, blockchain node operations, and Decentralized Finance (DeFi).
18.MemeStrategy, Inc. (2440.HK)
$MEMESTRATEGY (02440.HK)$ It is an investment holding company mainly engaged in IoT application data transmission and processing services as well as telecommunications equipment business, while also focusing on investments in artificial intelligence, blockchain, and cultural sectors.
On August 2, MemeStrategy, a Hong Kong-listed company, announced a strategic partnership with Helio, a subsidiary of cryptocurrency and stablecoin platform MoonPay, to support the issuance platform and token trading system Moonit.
On June 16, MemeStrategy announced the purchase of 2,440 SOL tokens for HKD 2.907 million.
Editor/Doris