Solana News Today: Sharps Technology Stock Surges 96% on $400M Solana Treasury Plan

Shares of Sharps Technology surged nearly 96% on Monday following the company’s announcement of a $400 million Solana (SOL) treasury initiative [1]. The stock opened at $7.40, spiked to an intraday high of $14.53, and closed the session at $12.01, marking one of the largest single-day gains in recent market history [2]. The move is part of a private investment in public equity (PIPE) deal with the Solana Foundation, which will see Sharps acquire $50 million worth of SOL tokens at a 15% discount to their 30-day average price, with the transaction expected to close on or around August 28 [3].

The structure of the investment allows investors to fund their allocations using locked or unlocked SOL tokens in exchange for pre-funded and stapled warrants, directly linking equity exposure to the Solana blockchain [4]. Sharps also appointed Alice Zhang, co-founder of Jambo, as chief investment officer, and James Zhang as a strategic adviser, both prominent figures in the Solana ecosystem [5]. This strategic shift has positioned the company as a key player in the emerging trend of corporate treasuries investing in digital assets.

The trend of traditional firms allocating capital to cryptocurrencies has gained momentum in the health sector, with several biotech and pharmaceutical companies making similar moves in recent months. For instance, Hoth Therapeutics allocated $1 million in Bitcoin in November 2024 as a hedge against inflation [6]. Similarly, Atai Life Sciences, a Nasdaq-listed biopharma firm, committed to a $5 million Bitcoin treasury in March 2025, citing the high capital requirements of drug development [7]. In July, 180 Life Sciences rebranded as ETHZilla and announced plans to build a $425 million Ethereum treasury [8].

Sharps Technology’s strategy, however, stands out for its scale and focus on Solana. The company has not yet provided a timeline for its first Solana purchases, but the market has already reacted positively to the potential for long-term gains tied to the performance of the Solana network [9]. The initiative is backed by major crypto investors, including ParaFi and Pantera Capital, signaling confidence in the platform’s future [10]. Analysts have noted that the 7% yield projected from this investment could offer an attractive return compared to traditional treasury allocations [11].

Despite the bullish sentiment, some caution remains. Wall Street firm Charles Schwab has previously warned that allocating large portions of corporate cash to volatile digital assets could pose significant risks, especially for companies not operating in the crypto sector [12]. Investors are now watching closely to see whether the move will lead to sustained value creation or remain a speculative play on Solana’s growth trajectory.

Trading volumes for Sharps Technology have spiked in the days following the announcement, with the stock continuing to trend upward [13]. While some analysts forecast further gains, others remain cautious about the long-term viability of a treasury heavily weighted in digital assets. The success of Sharps’ plan will ultimately depend on Solana’s price performance and the company’s ability to execute its strategy without overexposure [14].

Source:

[1] Benzinga – [https://www.benzinga.com/crypto/25/08/47306522/sharps-technology-stock-soars-over-50-after-400-million-solana-treasury-bet](https://www.benzinga.com/crypto/25/08/47306522/sharps-technology-stock-soars-over-50-after-400-million-solana-treasury-bet)

[2] parameter.io – [https://parameter.io/sharps-technology-stss-stock-rallies-82-as-company-announces-400m-solana-treasury-plans/](https://parameter.io/sharps-technology-stss-stock-rallies-82-as-company-announces-400m-solana-treasury-plans/)

[3] AInvest – [https://www.ainvest.com/news/solana-news-today-sharps-technology-spends-400m-build-largest-solana-digital-treasury-2508/](https://www.ainvest.com/news/solana-news-today-sharps-technology-spends-400m-build-largest-solana-digital-treasury-2508/)

[4] AInvest – [https://www.ainvest.com/news/solana-news-today-sharps-tech-commits-400m-build-solana-based-corporate-treasury-2508/](https://www.ainvest.com/news/solana-news-today-sharps-tech-commits-400m-build-solana-based-corporate-treasury-2508/)

[5] parameter.io – [https://parameter.io/galaxy-digital-multicoin-capital-and-jump-crypto-plan-1-billion-solana-treasury-fund/](https://parameter.io/galaxy-digital-multicoin-capital-and-jump-crypto-plan-1-billion-solana-treasury-fund/)

[6] Benzinga – [https://www.benzinga.com/quote/STSS](https://www.benzinga.com/quote/STSS)

[7] MoneyCheck – [https://moneycheck.com/sharps-technology-inc-stss-stock-skyrockets-82-after-400m-solana-treasury-strategy/](https://moneycheck.com/sharps-technology-inc-stss-stock-skyrockets-82-after-400m-solana-treasury-strategy/)

[8] CoinMarketCap – [https://coinmarketcap.com/community/articles/68acca169de84b22569c126d/](https://coinmarketcap.com/community/articles/68acca169de84b22569c126d/)

[9] XT.com – [https://www.xt.com/en/blog/post/galaxy-jump-multicoin-seek-1-billion-for-buying-solana-token-bloomberg-com](https://www.xt.com/en/blog/post/galaxy-jump-multicoin-seek-1-billion-for-buying-solana-token-bloomberg-com)