Solana Company Emerges as Major Corporate Holder of SOL Tokens

A company trading on the Nasdaq under the ticker HSDT has significantly increased its holdings of Solana’s SOL token as part of its corporate treasury strategy. Formerly known as Helius Medical Technologies, the firm now operates as Solana Company.

Neurotech Firm Rebrands, Pivots Treasury Strategy Toward Solana

The Pennsylvania-based company announced it now holds over 2.2 million SOL. It also maintains more than $15 million in cash, which it stated is intended for further digital asset acquisitions. Based on SOL’s price of $232.50 as of October 6, the combined value of these holdings exceeds $525 million.

This total surpasses the gross proceeds from the company’s initial private placement offering, which closed on September 18. The team noted that the rapid accumulation of assets occurred in less than three weeks following that capital raise.

The firm further explained that the purchases showcase the company’s commitment to a SOL-centric treasury strategy. In a statement, the firm expressed its “long-term confidence in the Solana ecosystem.” A large swathe of corporate entities has delved into the bitcoin and altcoin treasury stacking strategy this year, also known as the digital asset treasuries (DATs).

Cosmo Jiang, a General Partner at Pantera Capital and a board observer at HSDT, referenced other corporate treasury strategies. He noted the company is “focused on maximizing shareholder value by efficiently accumulating solana.” Jiang said the company was “following in the footsteps of Michael Saylor at MSTR.”

Solana Company’s mission includes supporting tokenized networks as a long-term SOL holder. The company will also continue its existing neurotech and medical device operations. SOL is financially productive by design, offering a rough 7% native staking yield, unlike non-yield-bearing assets such as bitcoin.