Big corporate bets on crypto are no longer limited to Bitcoin. Forward Industries, a registered design company with NASDAQ, is currently reforming itself as Solana Treasury Ministry, gathering billions to stockpile tokens. The company has already spent over $1 billion Solana Over the past week, we are currently preparing $4 billion in stock sales to fuel more bulk purchases. This is one of the boldest moves by public companies towards Solana, in the same league as the Cryptocurrency Ministry, the largest company on record.
Forward industry shifts its strategy to Solana
Forward Industries, a registered NASDAQ design company, has revolved around the traditional business model. The company is currently established as the Ministry of Corporate Treasury with a focus on Solana. Recently, I submitted a $4 billion market share offering program in the market to raise fresh capital, primarily to accumulate more salt tokens.
Recent investments backed by Galaxy Digital
The move follows a $1.65 billion private investment in public capital that was closed last week. The round was led by Galaxy Digital, Jump Crypto and Multicoin Capital. The forward has already begun rolling out this capital, earning a SoL of 6.82 million with an average price of $232. The purchase cost around $1.58 billion, marking the beginning of an aggressive financial program.
Flexibility through ATM delivery
Forward Chairman Kyle Samani explained that the market structure provides flexibility. The company may issue and sell new shares from time to time, rather than a single bulk transaction. Cantor Fitzgerald will process sales under the agreement dated September 16, 2025. This plan is subject to an automated shelf registration statement that took effect upon submission.
Revenues and strategic direction
Forward said revenue could be used for general business purposes. However, the company has revealed that a significant portion could expand Solana’s balance sheet and buy revenue-generating assets. This reflects a broader strategy of using the stock market to fund the growth of the Cryptocurrency Department.
Growth trends in public companies
Forward submissions highlight an upward trend among publicly available companies. More companies are turning to the Cryptocurrency Department, and market offerings are the preferred way to access capital. Block’s data dashboard shows the expansion of the Public Treasury across Bitcoin, Ether, Solana and other altcoins. Solana Treasuries alone owns approximately $3.2 billion in assets as of September 17th, and Forward’s purchases are contributing to a large share.
Why is this important to Solana?
The move strengthens Solana’s position as a major corporate financial asset. Bitcoin and ether remain dominant, but the forward’s billion-dollar bet has heightened institutional interest in Solana. In combination with recent ETF flows, this could accelerate wider adoption and put Solana in direct competition with more established digital assets.