Forward Industries to Become Largest Solana Treasury Holder Through $1.6B Deal, Stock Skyrockets 101%

Corporate treasury strategy just got a crypto-powered jolt—and Wall Street is taking notice.

The Solana Power Play

Forward Industries seals a monumental $1.6 billion agreement, positioning itself as the number one Solana treasury holder. Markets respond instantly—share prices surge 101% in a single session.

No half-measures here. This isn’t a cautious allocation or a side-pocket experiment. It’s a full-scale pivot into digital asset treasury management, leveraging Solana’s speed and scalability to redefine corporate finance.

Finance traditionalists might scoff—another company chasing crypto hype. But with returns like these, maybe it’s the skeptics who are truly behind the curve.

Largest Solana treasury company

At Solana’s current trading price, the $1.65 billion allocation WOULD translate into more than 7.7 million SOL tokens.

Data from CoinGecko shows that the scale would make Forward Industries the largest publicly traded Solana treasury, overtaking Upexi’s 2 million SOL holding.

Considering this, Forward Industries says the program is designed to generate differentiated on-chain returns and strengthen long-term shareholder value.

As a result, Galaxy Digital, Jump Crypto, and Multicoin Capital will each provide strategic and technical support alongside their financial commitments. Galaxy will advise on structuring, while Jump crypto will help develop the infrastructure to manage treasury operations.

Leadership changes

As part of the PIPE agreement, Multicoin co-founder Kyle Samani will become Chairman of Forward Industries’ Board of Directors.

Chris Ferraro, President and Chief Investment Officer at Galaxy, and Saurabh Sharma, Chief Investment Officer of Jump Crypto, will join as Board observers.

These individuals bring extensive experience in investing in and building within the Solana ecosystem.

Samani argued that Solana remains undervalued despite its strong developer and user activity, making this an opportune moment to build a large-scale treasury.

He added:

“Real economic value is being generated on Solana. An institutional-scale treasury can be deployed in sophisticated ways within the Solana ecosystem to create differentiated value and increase SOL per share at a faster rate than simply being a passive holder.”