The Corporate Pivot to Solana
Following the trend popularized by Michael Saylor when his firm began acquiring Bitcoin in 2020, public companies are now diversifying their treasuries. Beyond Bitcoin, firms are increasingly adding assets like Ethereum, XRP, and notably Solana to their balance sheets. TrendKia has compiled a list of the five publicly traded companies with the largest current Solana holdings.
1. Forward Industries - 7,044,079 SOL
As of its March 2026 update, medical design firm Forward Industries leads the pack with 7,044,079 SOL. The firm spent approximately 1.6 billion dollars on this acquisition in September, though current market conditions with Solana trading at 69 dollars have reduced its value to 486 million dollars. Supported by heavyweights like Galaxy Digital, Jump Crypto, and Multicoin Capital, the firm raised 1.65 billion dollars to fund its treasury. They remain active on-chain, generating 4.6 million dollars in staking revenue during Q4.
2. Upexi - 2,360,000 SOL
Upexi launched its Solana strategy in April 2025, initially driving its stock up by over 300%. However, the company has since faced severe volatility, with shares falling more than 96% from a 52-week high of 22.57 dollars to 0.91 dollars. Having raised 300 million dollars in total, the firm holds over 2.36 million SOL, currently valued at approximately 163 million dollars. They have recently added BitMEX co-founder Arthur Hayes to their advisory board.
3. DeFi Development Corp. - 2,294,576 SOL
This former real estate software company, which pivoted to a Solana treasury strategy in April 2025, holds roughly 2.3 million SOL worth about 158 million dollars. The firm has become deeply involved in the ecosystem, acquiring a validator company and collaborating with meme coins like BONK. In June 2026, they established a 5 billion dollar equity line of credit to support further acquisitions.
4. Solana Company - 2,071,127 SOL
Formerly known as Helius Technologies, the medical device firm rebranded to Solana Company to reflect its shift in focus. After raising 500 million dollars via an offering led by Pantera Capital and Summer Capital, the firm accumulated over 2.2 million SOL. Their holdings now stand at 2,071,127 SOL, currently valued at 143 million dollars.
5. SkyAI - 2,000,000 SOL
Originally operating as Sharps Technology, the firm announced a 400 million dollar plan to build a Solana treasury in August 2025. After the acquisition, the company rebranded as SkyAI. As of May 2026, the company confirmed it still holds approximately 2 million SOL, which carries a market value of about 138 million dollars.
