Sharps Technology Plans $400 Million Stock Sale to Fund Solana Treasury

Sharps Technology plans to raise $400 million through a stock sale to fund a treasury for Solana. The capital raise is expected to close on August 28, potentially making Sharps the largest publicly traded holder of Solana, surpassing Upexi's $394 million holdings.

New Solana Treasury In The Makings

Capital raise will attract backing from firms like ParaFi, Pantera Capital, and CoinFund.
Alice Zhang, co-founder of crypto smartphone maker Jambo, joins as chief investment officer.
Major players, including Galaxy Digital and Multicoin Capital, are raising $1 billion for their own Solana treasury company.

Strategy Expands Bitcoin Holdings

Small public companies are establishing digital asset treasuries, including for altcoins like XRP and BNB.
Strategy (formerly MicroStrategy) acquired 3,081 Bitcoins between August 18 and 24 for $356.9 million.
Michael Saylor reported a year-to-date Bitcoin yield of 25.4% with total holdings of 632,457 Bitcoins valued at approximately $46.50 billion.

Currently, Solana trades at $196, having lost the $200 level and retracing nearly 5% in the last 24 hours, 32% below its record high of $293.