Forward Industries Loads Up on 6.82M SOL in $1.58B Treasury Play

TLDR:

• Forward Industries bought 6.82M SOL at $232 each, totaling $1.58B, starting its Solana treasury strategy.
• The purchase used open market and on-chain trades, including a $1M execution via Solana DFlow aggregator.
• The buy follows a $1.65B PIPE financing led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
• All 6.82M SOL tokens are staked, boosting exposure and aligning with Forward’s plan to grow SOL per share.

Solana has landed another major institutional backer. Forward Industries has moved quickly to put fresh capital to work. 

The Nasdaq-listed company confirmed a massive SOL purchase as it launches its treasury strategy. Investors have been watching closely after its billion-dollar raise last week. Now the first move is here, and it’s fully staked.

$1.58B SOL Purchase Kicks Off Strategy

Forward Industries reported it purchased 6,822,000 SOL at an average price of $232. The total spend came to about $1.58 billion. The company said the move represents the first step in its new Solana-focused treasury approach.

The purchase was funded by its recently closed $1.65 billion private investment in public equity round. Galaxy Digital, Jump Crypto, and Multicoin Capital led the raise, which closed on September 11, 2025. According to the company, the raise was the largest Solana-focused treasury funding to date.

Part of the trades took place directly on-chain, including a $1 million execution via DFlow, a Solana-native exchange aggregator. Liquidity was routed through SolFi to secure the most competitive execution. The firm emphasized that on-chain activity will become a regular part of its operations going forward.

Forward Industries said it acquired only non-locked tokens to keep maximum flexibility. The move shows a push to establish liquidity quickly and start generating yield within the network.

All Tokens Staked to Grow Solana Holdings

The company confirmed it has staked all of the SOL purchased so far. This staking aligns with its stated goal of increasing SOL per share faster than passive holding. By deploying its capital quickly, the company is seeking to leverage Solana’s network yield potential.

Kyle Samani, chairman of Forward Industries, said the company aims to become the largest Solana treasury operator globally. He stated the strategy is designed to both strengthen the Solana ecosystem and deliver value for shareholders.

Michael Pruitt, interim CEO, said the purchase represents the first milestone since closing the PIPE. He added that the treasury is designed to be deployed in more sophisticated ways over time.

The company said more activity should be expected in the coming weeks. The early move confirms its commitment to building exposure to SOL and using on-chain methods to optimize execution.

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