Forward Industries, Inc. (NASDAQ: FWDI), a Solana-focused digital asset treasury company, reported a significant increase in its SOL and SOL equivalent holdings for its fiscal fourth quarter ended Sept. 30, 2026. According to the company's announcement, holdings rose by 948,601 SOL, or 13%, reaching 8,501,298 SOL, which represents approximately 1.4% of Solana's circulating supply. The SOL added during the quarter had an average cost of $83 per SOL.
This growth comes amid a broader trend of corporations exploring digital asset treasuries as a way to enhance shareholder value. Forward Industries' preliminary, unaudited net asset value increased to approximately $870.4 million as of Sept. 30, up from approximately $481.3 million as of June 30. Additionally, SOL per fully diluted share increased 10.4% quarter over quarter to 0.0806 from 0.0730, indicating improved efficiency in capital allocation.
For investors, this news underscores the potential of Solana as a treasury asset. Forward's strategy involves buying, holding, staking, trading, and investing in SOL and related digital assets, protocols, and businesses. The company aims to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with developers and projects to increase shareholder value. In connection with a private placement transaction in September 2025, Forward launched its digital asset treasury strategy, supported by industry-leading investors and operating partners including Galaxy Digital and Jump Crypto.
The implications of this announcement extend beyond Forward Industries. As more companies consider adding digital assets to their balance sheets, the demand for SOL and other cryptocurrencies could rise, potentially impacting market dynamics. For readers interested in the full details, the complete press release is available at https://ibn.fm/Gcttb. For more information on Forward Industries' Solana treasury strategy, visit www.forwardindustries.com. The latest news and updates relating to FWDI are available in the company's newsroom at https://ibn.fm/FWDI.
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