Sharps Technology Targets $400 Million Solana Treasury Backed by ParaFi, Pantera

- $400 million private placement reinforces pivot from medical devices to digital assets. - Institutional backing showcases confidence in Solana’s scalability and liquidity ecosystem. On August 25, 2025, Bloomberg reported that Sharps Technology plans to raise $400 million through a private placement to establish the largest digital asset treasury focused on Solana (SOL). This move, backed by prominent investors ParaFi and Pantera Capital, signals a strategic shift for the Nasdaq-listed medical device firm as it transitions into the burgeoning digital asset space. Sharps Technology expects the transaction to close by August 28. The private investment in public equity (PIPE) transaction involves the purchase and sale of common stock. Following the announcement of this ambitious pivot, Sharps Technology’s shares surged in price, reflecting market enthusiasm for its Solana-driven asset strategy. Sharps Technology’s pivot is part of a broader trend among Nasdaq-listed firms adopting digital asset treasury strategies centered on Solana’s ecosystem, with companies such as Upexi and DeFi Development Corp also embracing its infrastructure to manage and expand their treasuries. This trend showcases the platform's viability for fostering institutional engagement. On August 25, Sharps Technology’s newly appointed Chief Investment Officer, Alice Zhang, stated in the Bloomberg report, “Global adoption of Solana's ecosystem is accelerating as it continues to receive institutional support for its vision of a single global market for every tradeable asset. This makes now the right time to establish a digital asset treasury strategy with SOL.” Zhang’s statement captures the growing confidence in Solana’s scalability and liquidity-driven architecture, highlighting the platform's appeal among institutional investors. To strengthen its commitment to this strategy, Sharps Technology has entered into a non-binding letter of intent with the Solana Foundation to purchase $50 million worth of SOL at a discounted rate. This agreement underscores the company's dedication to developing a Solana-focused treasury with a competitive entry. According to CoinMarketCap data on August 25, Solana (SOL) was trading at $197.51, while its 24-hour trading volume had decreased by 5.79%.