Helius Medical Technologies is making waves in the crypto treasury space. The company announced its first Solana (SOL) acquisition, marking a major step in its broader $500 million digital asset strategy.
The firm purchased over 760,000 SOL tokens at an average price of $231 per token, giving it a current holding valued at roughly $167 million. Helius Medical plans to scale its position over the next 12–24 months, exploring staking and other DeFi opportunities along the way.
Backed by Big Names
The acquisition follows a September 12 fundraising round led by Pantera Capital and Summer Capital, which sent Helius shares soaring 250% in a single day. Cosmo Jiang, Pantera Capital general partner and board observer at HSDT, highlighted the efficiency of the initial purchase, noting that acquiring SOL below recent market prices reflects careful capital stewardship.
Executive Chairman Joseph Chee also acknowledged support from the Solana ecosystem, including staking providers, DeFi protocols, and community participants, all showing interest in Helius’ treasury-focused approach.
Cash Reserves and Market Position
Helius Medical maintains over $335 million in cash, giving the company flexibility to continue executing its digital asset strategy. While HSDT shares recently declined 14% to around $20.79, the firm’s market capitalization sits at approximately $800 million.
For context, Forward Industries currently leads Solana-based digital asset treasuries with about $1.6 billion in holdings. Helius is building its SOL position strategically and conservatively, with a focus on timing purchases to maximize shareholder value.
A Clear Focus
Despite the similarity in name, Helius Medical is not affiliated with the Solana infrastructure company Helius, founded by Mert Mumtaz. The medical firm is strictly focused on treasury strategy execution alongside its healthcare technology development initiatives.
Company leadership says future acquisitions will remain opportunistic, guided by market conditions and strategic objectives. By combining a strong cash reserve with disciplined capital allocation, Helius is positioning itself as a thoughtful player in the growing Solana treasury ecosystem.
This move underscores a broader trend: traditional companies are increasingly exploring crypto as a strategic treasury asset, balancing innovation with risk management to drive long-term shareholder value.
