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Sharps Technology raised $400 million through a private placement to build a digital asset treasury focused on Solana ($SOL).
Author: Sahil Thakur
Published On: Fri, 29 Aug 2025 03:18:09 GMT
Sharps Technology (STSS), a Nasdaq-listed medical device company, has made a bold move into crypto. It raised $400 million through a private placement to build a digital asset treasury focused on Solana ($SOL). Following the news, its stock jumped over 40%, closing at $10.35 and hitting a daily high of $13.28.
This move places Sharps alongside other public firms like Strategy, which famously holds over 632,000 BTC worth $71 billion. It signals growing interest in crypto as a legitimate treasury strategy for institutions.
Sharps sold common stock and warrants at $6.50 per unit for the raise for Solana. If all warrants are exercised, the total raise could hit $1 billion. Major digital asset players participated, including ParaFi, Pantera, FalconX, Bastion Trading, and Saba Capital.
Cantor Fitzgerald led the deal as placement agent. Aegis Capital served as co-placement agent.
Sharps has signed a non-binding letter of intent with the Solana Foundation. It plans to buy $50 million of SOL at a 15% discount to the 30-day average price. The purchase depends on conditions related to the raise.
To lead this new strategy, Sharps appointed Alice Zhang as Chief Investment Officer. She explained the timing: “Solana is capable of handling any tradable asset, anywhere. Demand is rising fast.”
Zhang’s comments come as Galaxy Digital, Jump Crypto, and Multicoin Capital reportedly plan a $1 billion Solana treasury fund. Institutional confidence in Solana is clearly growing.
Despite the pivot, Sharps isn’t walking away from its roots. It will continue its core medical device and packaging business, including its safety syringe line. The digital asset treasury strategy will operate in parallel.
Sharps is one of the first non-crypto companies to take a large SOL position. Its move could inspire others in traditional sectors to follow.
| Company | Ticker | Approx. BTC Holdings |
|---|---|---|
| MicroStrategy, Inc. | MSTR | ~592,100 BTC |
| Twenty‑One Capital (XXI) | CEP | ~37,230 BTC |
| Marathon Digital Holdings, Inc. | MARA | — |
| Riot Platforms, Inc. | RIOT | — |
| Coinbase Global, Inc. | COIN | ~2,509 BTC |
| Tesla, Inc. | TSLA | ~11,500 BTC |
| Block, Inc. | SQ | ~8,600 BTC |
| Semler Scientific | SMLR | ~5,021 BTC |
| Next Technology Holding Inc. | NXTT | ~5,833 BTC |
| Hut 8 Mining Corp. | HUT | ~10,667 BTC |
| GameStop Corp. | GME | ~4,710 BTC |
| ProCap BTC, LLC | CCCM | ~4,932 BTC |
| BitFuFu Inc. | FUFU | ~1,792 BTC |
| BTCS Inc. | BTCS | — |
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Real voices. Real reactions.
🚨BREAKING: Sharps Technology has closed a $400M private placement to launch a Solana treasury strategy, planning to buy $SOL in the open market. Total proceeds could reach $1B if all warrants are exercised, making it one of the largest Solana treasury firms. https://t.co/W8ZdptEJh0
📊 Institutional money is flowing into #Solana! From Sharps Technology (2.14M $SOL) to Mercurity Fintech (1.08M $SOL), big players are stacking up exposure. 🚀 👉 Top movers in the last 30 days: $UPXI: +15.3% $CYFRF: +12.4% $BTCM: +18.9% Institutions aren’t just watching — https://t.co/RLA20tunDN
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