Nasdaq-Listed Solana Company Buys $334M in SOL Within Two Weeks

Solana Company, a Nasdaq-listed company, has entered the market with a strategic move to boost its reserves with Solana (SOL), the world’s sixth-largest cryptocurrency. As revealed in a recent social media post by the company’s official account on X, it now holds 2.2 million SOL after spending approximately $334 million to purchase about 1.439 million SOL within two weeks. 

Today we announced our continued acquisition of Solana tokens.

We now hold over 2.2M SOL, valued at ~$520M (at $236), and are one of the largest and fastest-growing DATs.

Our mission is to be the preeminent Solana treasury and to maximize SOL per share in order to grow… pic.twitter.com/K5mOVa63ow

— Solana Company $HSDT (@Solana_Company) October 6, 2025

Notably, the Solana Company was formerly known as Helius Medical Technologies, Inc. After adopting SOL as its primary reserve asset, it officially changed its corporate name to Solana Company on September 29, 2025.

Massive 1.439M SOL Boost

Solana Company made its first SOL purchase on September 22, scooping up 760,190 SOL for $175.6 million at an average price of $231 per SOL. Since then, it has purchased SOL from the open market at various prices under different conditions; thus, at the time of its latest purchase announcement, its average purchase price stands at $232 per SOL. 

Commenting on the firm’s most recent purchase, Cosmo Jiang, General Partner at Pantera Capital and Board Observer at HSDT, said in a recent press release, 

“Following in the footsteps of Michael Saylor at MSTR and Tom Lee at BMNR, HSDT Solana Company is focused on maximizing shareholder value by efficiently accumulating Solana.”

This is evident as the company’s Solana and cash holdings have exceeded the initial capital raise amount in less than three weeks, and it still retains $15 million in cash to spend on subsequent SOL purchases in the coming days.

Solana Company’s Stock Reacts

According to data from Google Finance, the Solana Company’s stock, HSDT, experienced a 12% surge in value over the past 24 hours. Undoubtedly, its most recent SOL purchase announcement was the catalyst for such an increase, as it attracted more pro-crypto investors seeking indirect exposure to SOL to acquire shares of the company.

Concluding its latest SOL shopping, Solana Company has moved from eighth to the second position on the world’s list of institutional SOL investors, surpassing Sharps Technology, Defi Development Corp, Upexi, and other firms ahead of it earlier. Meanwhile, Forward Industries, which holds 6.822 million SOL, remains at the top of the list.

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