Solana treasury holders pause SOL buying as unrealized losses mount

Beincrypto reports that companies using Solana as strategic treasury assets have halted SOL purchases as prices fell and unrealized losses grew. Forward Industries holds the largest reported position, with more than 6.91 million SOL acquired at a total cost of $1.59 billion, roughly 1.12% of Solana’s supply.

With SOL trading around $128, the holdings are now worth about $885.59 million, producing unrealized losses exceeding $700 million, or about -46%. Since starting its Solana treasury strategy in September 2025 the company has earned over 133,450 SOL in staking rewards, and its validator infrastructure has generated a reported 6.73% gross APY before fees; nearly all of its SOL holdings are staked.

The sell-off has also hit Forward’s stock, which has fallen more than 80% since the SOL purchases were announced in September 2025, reducing market capitalization and weakening capital-raising capacity. Other digital asset treasury (DAT) firms also show heavy losses: Upexi reported more than $47 million unrealized (-15.5%), Sharps Technology over $133 million (-34%), and Galaxy Digital Holdings over $52 million (-38%).

Key Topics

Crypto, Solana, Forward Industries, Upexi, Sharps Technology, Galaxy Digital