Shares of Forward Industries (FWDI), the top Solana digital asset treasury company, surged more than 17% on Wednesday after it said it expanded its treasury holdings by more than 500,000 SOL during its fiscal third quarter.
Its total holdings now top 7.55 million SOL, worth about $576 million.
The Nasdaq-listed company said it acquired the tokens at an average price of about $79 each during the quarter that ended on Tuesday. It also reported annualized SOL-per-fully diluted share growth of 36% from the previous quarter.
The latest purchases further extend FWDI's lead as the largest publicly traded Solana (SOL) treasury company. According to The Block's data, its 7.55 million SOL stash is more than the holdings of the next three largest Solana treasury firms combined. Solana Company, DeFi Development Corp., and Upexi together hold roughly 6.7 million SOL.
Top four publicly traded Solana treasury companies. Source: The Block
