Sharps Technology, a US-based medical device manufacturer, has announced an ambitious plan to establish what it claims will be the “world’s largest” Solana (SOL) treasury. The company revealed on Monday, 25 August, that it intends to raise $400 million through a private investment in public equity (PIPE) transaction, signalling a dramatic shift in corporate strategy.
The move positions Solana at the heart of Sharps Technology’s new digital treasury programme, an initiative that reflects growing institutional interest in alternative blockchain assets beyond Bitcoin and Ethereum.
Solana at the Core of Treasury Strategy
According to the company, the $400 million raise will be channelled into the acquisition of SOL tokens, forming the foundation of a large-scale digital treasury. Alice Zhang, Chief Investment Officer at Sharps Technology, emphasised Solana’s speed and adoption rate as key motivators for the shift.
Alice Zhang, Chief Investment Officer at Sharps Technology
“Global adoption of Solana’s ecosystem is accelerating as it continues to receive institutional support for its vision of a single global market for every tradeable asset, making now the right time to establish a digital asset treasury strategy with SOL,” Zhang said.
The company added that it plans to build a dedicated team with strong ties to the Solana community and proven experience in scaling digital asset ventures, further cementing its commitment to this blockchain ecosystem.
From Pharma Packaging to Crypto Treasuries
Sharps Technology has long been recognised for its expertise in pharmaceutical packaging solutions. However, in recent months the company has faced pressures linked to Nasdaq compliance and a tightening cash position. These financial challenges appear to have spurred the bold move into digital assets, representing a dramatic departure from its traditional business model.
Sharps Technology (Nasdaq: STSS / STSSW) completed a $400M PIPE financing to build the world’s largest Solana (SOL) treasury, with investors including ParaFi, Pantera, and Monarq. It signed an MoU with the Solana Foundation to buy $50M SOL at a 15% discount.…
— Wu Blockchain (@WuBlockchain) August 25, 2025
Corporate adoption of digital asset treasuries has grown steadily over the past year as firms seek to diversify value reserves and attract investor attention. Ethereum has been a particularly popular choice for treasuries in 2024. Sharplink Gaming, for instance, currently holds 740,760 ETH, worth approximately $3.2 billion, while BitMine has accumulated over 1.5 million ETH, valued at $6.6 billion.
Sharps Technology’s pivot to Solana marks one of the most significant examples of a non-crypto-native company attempting to reorient its business around blockchain treasury assets.
Institutional Spotlight on Solana
The announcement comes at a time when Solana is enjoying heightened interest from large institutional players. Galaxy Digital, Jump Crypto, and Multicoin Capital are reportedly in discussions to raise as much as $1 billion to establish a Solana-focused treasury. The plan is understood to involve acquiring a public company and converting it into a dedicated Solana reserve, with backing from the Solana Foundation. Reports suggest the deal could be finalised as early as September.
This momentum positions Solana to become the third major corporate treasury asset after Bitcoin and Ethereum. The blockchain has already carved out a reputation for speed and scalability, powering a growing number of decentralised finance (DeFi) and non-fungible token (NFT) platforms. Institutional adoption at scale could further cement its role as a pillar of the digital asset market.
A Defining Moment for Solana
For Sharps Technology, the $400 million PIPE offering represents both a high-stakes gamble and an opportunity to reposition itself in a rapidly evolving financial landscape. For Solana, it underscores a defining moment in its quest to join Bitcoin and Ethereum as a cornerstone of institutional treasury strategies.
If successful, Sharps Technology’s treasury initiative could not only strengthen its balance sheet but also accelerate the legitimisation of Solana as a corporate reserve asset. With major players circling and institutional capital flowing in, Solana’s next chapter may be written not just in the crypto-native world, but in the boardrooms of traditional companies making bold pivots into blockchain.
