Sharps Technology is a medical device company, has surprised the market with its plan to build the world’s largest Solana (SOL) treasury worth $400 million. The decision has raised an important question in the crypto community: why Solana and not Bitcoin, Ethereum, or Binance Coin?
This comes right after the company completed a private placement offering, marking a big step toward its entry into blockchain finance.
Sharps Technology Announces $400M SOL Treasury
In a recent announcement, Sharps Technology has secured $400 million to build the world’s largest Solana (SOL) treasury. This move shows Solana’s rising strength compared to big names like Bitcoin, Ethereum, and BNB.
Backed by investors such as ParaFi, Pantera, and Monarq, Sharps will purchase most of the SOL directly from the open market. In addition, it has signed a deal with the Solana Foundation to buy $50 million worth of SOL at a 15% discount.
The financing was done through a PIPE deal, where each unit included common stock and stapled warrants priced at $6.50. The warrants, valid for three years, come with an exercise price of $9.75.
The transaction is expected to close by August 28, 2025, subject to standard conditions.
Why Solana, Not Bitcoin, Ethereum, or BNB?
Bitcoin may be the king of crypto, and Ethereum may have the biggest developer base, but when it comes to speed and scalability, neither can match Solana.
- 9 billion transactions processed every quarter
- Over $6 billion in daily trading volume
- Millions of active wallets worldwide
Solana handles more activity than all other blockchains combined, showing why Sharps sees it as the future.
On top of it, Solana also offers one of the most attractive staking yields among top blockchains, currently around 7%. Add to that its $1.3 billion in app revenue this year alone, and it’s clear why this chain is attracting institutional players.
Sharps Technology Leadership and Strategy
Executive Chairman Paul K. Danner summed up the company’s bold vision: “With the right team, strategy, and partners, we believe Sharps Technology is positioned to build the world’s largest and most impactful SOL treasury
To drive this plan, Sharps has built a team with strong ties to the Solana ecosystem. James Zhang, a well-known Solana community leader, has joined as a strategic advisor.
If successful, this initiative won’t just be a milestone for Sharps Technology but could also strengthen Solana’s place as the backbone of a new era in global markets.
