Sharps Technology posts first update on Solana staking income amid SOL price slump

Sharps Technology said its Solana treasury has been generating steady staking income since inception, offering the first public look at how the Nasdaq-listed medical device company’s onchain yield strategy is performing as SOL prices remain under pressure.

In a statement released Monday, Sharps said its validator partners have produced roughly 7% gross annualized staking returns before fees, the company’s first quantitative disclosure on staking performance since it began accumulating SOL. Nearly all of Sharps’ Solana holdings are currently staked, according to the update.

The disclosure follows Sharps’ recent move to deepen its role in the Solana ecosystem by launching an institutional-grade validator in partnership with Coinbase, to which the company has delegated a portion of its treasury. Sharps announced the validator earlier this month, framing the initiative as a shift from a passive treasury strategy toward direct participation in network infrastructure.

“STSS continues to deliver strong revenue from its SOL holdings due to its integration with institutional-quality staking infrastructure,” said James Zhang, a strategic advisor to Sharps.

The update also follows a series of governance and capital markets steps aimed at shoring up investor confidence. Earlier this month, Sharps entered into a 90-day lock-up agreement with its strategic advisor, restricting sales or hedging of advisory warrants and underlying shares. The company has also approved a share buyback program of up to $100 million.

SOL price struggles

Sharps’ approach builds on a broader trend among publicly listed Solana treasury companies that are leaning on validator operations and staking yield to support valuations as token prices struggle.

Earlier this month, peer SOL Strategies launched a liquid staking product backed by more than 500,000 SOL, adding another revenue stream alongside its validator and treasury operations.

Sharps holds just under 2 million SOL worth nearly $250 million, placing it fifth among the largest publicly traded Solana treasuries.

The position was accumulated at an average cost of roughly $195 per token, according to The Block's price data, leaving the company underwater at current prices near $120. SOL is down nearly 60% from its all-time high reached about a year ago.

Shares of Sharps Technology were trading around $2.15 on Monday, down sharply from highs above $16 last summer following the company’s initial announcement of its Solana treasury strategy.