Sharps Technology (Nasdaq: STSS), a medical device company that established a Solana (SOL) token treasury last year, has partnered with Coinbase Institutional to launch and operate a dedicated Solana network validator. This move marks a strategic shift for the company from being a passive treasury participant to an active contributor to the network's security and decentralization.
The newly established "STSS Validator" will be operated by Coinbase using its institutional-grade infrastructure stack. Sharps Technology will delegate a portion of its substantial holdings of over 2 million SOL to this validator, enabling it to earn staking rewards and directly support the network's consensus mechanism. Coinbase will be responsible for the validator's uptime, security, and day-to-day performance.
This development positions Sharps Technology as "one of the first U.S.-listed companies to evolve from a treasury-only approach to an active infrastructure participant in blockchain development." The partnership expands upon Coinbase's existing role as Sharps' provider for custody and trading services, deepening the relationship into on-chain infrastructure.
The trend of digital asset treasury (DAT) companies launching validators is gaining traction, particularly on proof-of-stake networks like Solana and Ethereum. Other SOL DATs, such as DeFi Development Corp and Bit Mining, have also made validator operations core to their business models, as the recurring revenue stream makes them more analogous to Bitcoin mining stocks. For context, Coinbase itself is a major Solana staker, contributing nearly 10% of the network's total staked SOL and operating validators across multiple global regions.
For Coinbase, this deal underscores its strategic push to provide comprehensive infrastructure services—including staking and validator operations—to institutions seeking direct on-chain participation beyond simple asset ownership.
