Forward Industries Deploys $1.6B Solana Treasury with 6.8M SOL Purchase

Highlights:

• Forward Industries has launched a $1.6B Solana treasury with a 6.8 million SOL purchase.
• All acquired SOL has been staked to support on-chain value creation.
• Another firm, Helius Medical Technologies, is raising over $500 million for its Solana treasury.

Forward Industries has officially started its Solana treasury strategy by purchasing 6,822,000 SOL tokens at an average of $232. The total cost amounted to approximately $1.58 billion, making it one of the largest crypto acquisitions from a public company in 2025.

The acquisition was financed by a $1.65 billion PIPE deal, according to the press release. The round was led by leading crypto firms Galaxy Digital, Jump Crypto, and Multicoin Capital. The firm said that the entire amount of SOL was acquired through open market and on-chain transactions. In addition, all acquired SOL has been staked as part of an overall on-chain treasury strategy.

Forward Industries, a Solana treasury company, announced it purchased 6,822,000 SOL at an average of $232, totaling about $1.58 billion. The SOL was acquired via open market and on-chain transactions and fully staked. The Nasdaq-listed firm recently closed a $1.65 billion round… pic.twitter.com/jUvxIc5ZAZ

— Wu Blockchain (@WuBlockchain) September 15, 2025

Chairman Kyle Samani called the strategy “differentiated” and long-term shareholder value-oriented. “We are creating the largest Solana treasury company in the world,” Samani said. The company is looking to stay active in the DeFi space of the Solana program, including staking and providing liquidity.

Another Solana Treasury Giant Emerges

Meanwhile, Helius Medical Technologies announced its Solana treasury plan. The company is expecting to raise over $500 million in a new public equity offering. This includes stapled warrants that could be worth a further $750M. The offering will close around 18th Sep 2025.

Helius Medical Technologies (Nasdaq: HSDT) raised over $500M in a PIPE led by Pantera Capital and Summer Capital, with potential proceeds above $1.25B if warrants are exercised. Funds will launch a SOL treasury strategy, making SOL the main reserve and exploring DeFi…

— Wu Blockchain (@WuBlockchain) September 15, 2025

The effort is being led by crypto-focused investors Pantera Capital and Summer Capital. Helius is planning a large accumulation of a SOL position in the next 12-24 months. They will seek to employ strategies like staking and lending in order to maximize their holdings. This move comes on the heels of a rising trend of public companies where crypto is becoming part of corporate reserves.

Shares of Helius rose 250% in pre-market trading following the announcement. The firm affirmed that SOL will be its primary reserve asset. Pantera Capital’s Dan Morehead highlighted Solana’s throughput, adoption, and yield as some of the reasons for the move. The company also made it clear that it has no connection with Helius Labs, which provides Solana infrastructure. “It is completely a different company,” said Helius Labs CEO Mert Mumtaz.

We are not associated with the Helius which raised money in the public markets today.

Neither is Helium nor Helio.

It is a completely different company.

Thank you for your attention to this matter!

— Helius (@heliuslabs) September 15, 2025

Public Markets Fuel the Rise of the SOL Treasury Trend

The emergence of Solana treasury strategies follows similar trends in Bitcoin and Ethereum. Inspired by Michael Saylor’s model, many public companies are issuing convertibles and equity to buy digital assets. In 2025 alone, more than 150 companies announced plans to purchase close to $100 billion in crypto.

Solana has become a preferred asset, with only BTC and ETH having more treasury allocations. Publicly held SOL has expanded to account for almost 1% of Solana’s total supply. This is an indication of growing confidence in the Solana network’s performance and scalability.

Significantly, Forward Industries has already begun to stake its holdings. The strategy focuses on the growth of SOL per share through on-chain activity, such as DeFi activity, liquidity provisioning, and market making. Helius is also pursuing some of the same staking strategies, but with a conservative risk approach.

Both companies also plan to provide regular updates on the treasury operations. Institutional involvement in the Solana ecosystem is growing. With the increasing number of public companies venturing into the space, the trend of Solana treasury looks far from being over.