Solana Focused Companies See Surge in Stock Value Amid $1.65 Billion Raise

Forward Industries surged 12% premarket after raising $1.65 billion to fund its Solana treasury strategy. The company plans to allocate the proceeds to build a SOL-based balance sheet, establish treasury operations, and expand institutional exposure in the Solana ecosystem. Meanwhile, Sharps Technology partnered with Pudgy Penguins, a leading Web3 brand, to broaden exposure to Solana treasuries.

Forward Industries, Inc. (NASDAQ: FORD) saw its stock surge by 12% premarket on September 12, 2025, following the announcement of a $1.65 billion private placement to fund its Solana treasury strategy. The company plans to allocate the proceeds to build a SOL-based balance sheet, establish treasury operations, and expand institutional exposure within the Solana ecosystem Forward Industries Secures $1.65B Funding for Solana Treasury Strategy^[1].

The funding, led by Galaxy Digital, Jump Crypto, and Multicoin Capital, highlights institutional confidence in Solana’s long-term growth. Galaxy Digital, an established Solana validator, will handle trading, staking, lending, and risk management for Forward’s treasury. Jump Crypto is contributing engineering expertise through its Firedancer validator client, designed to boost Solana’s speed and resilience. Multicoin, an early Solana seed investor, believes this active treasury approach will outperform passive holding Forward Industries Secures $1.65B Funding for Solana Treasury Strategy^[1].

Separately, Sharps Technology has partnered with Pudgy Penguins, a leading Web3 brand, to broaden its exposure to Solana treasuries. The partnership aims to leverage Pudgy Penguins' strong brand presence in the Solana ecosystem to attract more institutional investors to Sharps Technology’s treasury operations Solana Treasury Firms Boost Holdings to 6.5M SOL as Upexi Posts 126% Surge^[2].

The funding for Forward Industries comes amid broader momentum for Solana. Reports suggest Galaxy, Jump, and Multicoin may pursue a separate $1 billion Solana acquisition to secure liquidity. Meanwhile, developers are advancing Alpenglow, a proposal to slash Solana block finality times from 12.8 seconds to under 200 milliseconds. Regulators are also reviewing multiple Solana ETF applications, signaling mainstream adoption could accelerate even further Forward Industries Secures $1.65B Funding for Solana Treasury Strategy^[1].

Despite the excitement, treasury models in crypto face skepticism. Many firms trade below their managed net asset value, sparking fears of dilution and liquidation risks. Some critics warn the approach looks like a “Ponzi-style bet” reliant on constant fundraising. Still, advocates argue that disciplined companies with strong backers can thrive in the long run Forward Industries Secures $1.65B Funding for Solana Treasury Strategy^[1].