On 06 October 2025, Solana Company (HSDT), formerly Helius Medical Technologies, announced a significant expansion of its digital asset treasury, now holding over 2.2 million Solana (SOL) tokens as part of its long-term accumulation strategy. With SOL's market price around $235, the company's combined SOL and cash holdings exceed $525 million in value, surpassing the initial capital raised in a private placement offering closed on 18 September 2025.
Cosmo Jiang, General Partner at Pantera Capital and Board Observer at HSDT, emphasized the strategy, stating, "Following in the footsteps of Michael Saylor at MicroStrategy and Tom Lee at BMNR, Solana Company is focused on maximizing shareholder value by efficiently accumulating Solana. Our Solana and cash holdings now exceed the initial capital raise amount in less than three weeks." CEO Joseph Chee noted that institutional interest has been stronger than expected, particularly after recent digital asset conferences in Asia.
This move is part of a broader trend in 2025, where corporate SOL accumulation has surged. According to CoinGecko data, Forward Industries holds the largest Solana treasury with over 6.8 million SOL worth more than $1.5 billion, all accumulated in September. Other companies like DeFi Development Corp, Upexi, and Bit Mining have also made notable acquisitions. Solana Company now ranks as the second-largest corporate holder of SOL, highlighting Solana's emergence as a reserve asset alongside Bitcoin and Ethereum in corporate treasury diversification.
The trend mirrors the crypto treasury reserve narrative popularized by MicroStrategy's Bitcoin accumulation since 2020, which now holds over 640,000 BTC. Solana's appeal is bolstered by its high-performance network and yield-bearing staking model, signaling the next phase of crypto treasury evolution as companies diversify portfolios.