Healthcare stock surges 174% on suprise Solana treasury move

Nasdaq-listed Sharps Technology Inc. (STSS) soared after unveiling plans to build the largest Solana (SOL) treasury on the market, raising over $400 million via private investment to accumulate SOL on its balance sheet.

Shares popped from $4.84 to $13.28 — a whopping 174% gain — before settling around $10.35. The agreement includes preferred stock at $6.50 per share, with warrants exercisable at $9.75. Sharps also inked a non-binding deal with the Solana Foundation for a $50 million discounted purchase via time-weighted average price.

“Global adoption of Solana’s ecosystem is accelerating… making now the right time to establish a digital asset treasury strategy with SOL,” said Alice Zhang, Sharps’ new chief investment officer.

Sharps Technology Inc. is a U.S.-based medical device and pharmaceutical packaging company primarily focused on developing and manufacturing innovative, safe injection systems. The company specializes in smart safety syringes designed to reduce needlestick injuries, prevent needle reuse, and improve drug delivery efficiency across healthcare settings.

Crypto treasury firms boom

A growing wave of companies, often dubbed Bitcoin Treasury Companies (BTCs) and now Ethereum Treasury Companies (ETCs), are holding massive digital asset reserves as strategic balance-sheet assets. Over 150 such firms are vying for control of nearly 1 million BTC, tapping into scarcity-driven markets and altering supply dynamics.

A parallel trend is emerging in Ethereum land. Companies like BitMine Immersion Technologies now hold over 1.7 million ETH — approximately 3% of total supply — aiming to capitalize on staking yields, DeFi exposure, and institutional adoption momentum.

MicroStrategy stock tanks

While these treasuries offer dramatic upside—thanks to crypto price appreciation—the flip side is fragility. On Aug. 25, Strategy Inc. (formerly MicroStrategy), the poster child for Bitcoin treasuries, saw its stock fall nearly 4% following an announcement of a $350 million BTC buy, mirroring the dip in Bitcoin itself.

This story was originally reported by TheStreet on Aug 26, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.

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