James Richardson
Sharps Technology takes a bold leap from medical devices to digital assets by embracing Solana (SOL) for its treasury strategy.
On August 25, 2025, Nasdaq-listed Sharps Technology announced a $400 million private placement to acquire Solana tokens, marking a significant pivot from its previous focus on medical devices and pharmaceutical packaging. The funding round is supported by renowned institutional investors, including Pantera Capital, ParaFi, FalconX, and Phoenix Capital.
“Solana represents the next generation of global financial markets,” said James Zhang, strategic advisor to Sharps Technology. “It leads all major blockchains in staking yields, chain revenue, and app revenue. Establishing a digital asset treasury will deliver long-term value to our shareholders.”
Pivoting to Digital Assets: Why Solana?
Sharps Technology’s newly appointed Chief Investment Officer, Alice Zhang, emphasized that the pivot is based on Solana’s performance and institutional appeal.
“Solana provides low-cost settlements across diverse use cases, which makes it attractive to institutional investors,” Alice Zhang explained. “With global adoption accelerating, now is the ideal time to implement a digital asset treasury strategy centered on SOL. Our team brings deep connections to the Solana ecosystem and founder-level experience in scaling institutional digital asset platforms, positioning the company for success.”
Industry-Wide Shift Toward Solana
Sharps Technology is among a growing number of firms transitioning from traditional industries to digital asset treasury management. On the same day, Galaxy, Jump, and Multicoin announced plans to purchase $1 billion in Solana tokens, highlighting increasing confidence in Solana among institutional investors.
