Forward Industries Increases Solana Holdings to 8.7 Million SOL, Announces $50 Million Credit Facility and New Investment Plan
Forward Industries has increased its Solana reserves to 8.7 million SOL while announcing a $50 million credit facility and a new investment plan.
Forward Industries has increased its Solana reserves to 8.7 million SOL while announcing a $50 million credit facility and a new investment pForward Industries, which trades on Nasdaq under the ticker FWDI, continues to expand its Solana holdings. According to the company's announcement published on November 10, 2026, its total SOL and SOL-equivalent assets reached 8,727,694. Since September 30, Forward Industries has added 226,396 SOL to its reserves through purchases and staking rewards. The company also announced that it had secured a $50 million credit facility from a U.S. bank and committed to investing up to $50 million in a new financial product linked to tokenized residential real estate prices.
How Much Have Forward Industries' SOL Holdings Grown?
According to the company's official announcement dated November 10, its SOL holdings increased from 8,501,298 on September 30, 2026, to 8,727,694 as of November 9.
This represents an increase of approximately 2.7% over a period of around 40 days.
The company reported that the SOL assets added during this period had an average cost of $75 per token. For this calculation, the cash cost of SOL obtained through staking was considered zero.
Forward Industries' holdings account for approximately 1.5% of Solana's total circulating supply.
Meanwhile, SOL holdings per fully diluted share increased from 0.0806 to 0.0824.
According to the company's preliminary financial data dated November 9, the value of its SOL holdings stood at approximately $755.9 million.
However, this valuation is based on a SOL price of $86.61 used in the calculation and may change depending on current market prices.
SOL to Serve as Collateral for the $50 Million Credit Facility
The second development announced by Forward Industries involves a new financing agreement.
The company secured a two-year, $50 million credit facility from a federally chartered bank operating in the United States.
The interest rate on the facility will be calculated by adding 150 basis points to the Secured Overnight Financing Rate (SOFR).
A notable feature of the agreement is that the SOL assets pledged as collateral can continue to be used in staking activities.
This will allow the company to obtain financing without selling its reserves while continuing to benefit from staking rewards.
According to the announcement, the SOLassets pledged as collateral will not be rehypothecated by third parties.
Nevertheless, sharp declines in the price of SOL could reduce the value of the collateral and expose the company to additional financial obligations.
$50 Million Investment in a Tokenized Housing Price Product
Forward Industries also committed to investing up to $50 million in USHP, a tokenized financial product designed to track U.S. residential property prices.
The company will contribute to USHP's initial $100 million financing.
As part of the investment, Forward Industries also obtained a minority equity stake in Index Industries and warrants providing the right to acquire additional shares.
The company plans to use the expected U.S. dollar-denominated yields generated through USHP's yield-bearing USHPi token to purchase additional SOL.
Forward Industries will also work toward expanding USHP to the Solana network in 2027.
However, the investment commitment does not mean that the entire $50 million has already been deployed.
How Is the Decline in Solana's Price Affecting the Company?
SOL faced selling pressure during the period in which Forward Industries increased its holdings.
According to The Block's November 10 report, SOL fell to approximately $82 during the day, reaching one of its lowest levels in nearly three months.
The company's Nasdaq-listed shares also declined to approximately $5.25.
These developments have once again highlighted the risks that publicly traded companies holding cryptocurrency reserves face amid market volatility.
Author's Assessment
Forward Industries' decision to increase its Solana holdings demonstrates that the company remains committed to its SOL-focused treasury strategy.
Its ability to maintain staking income while using SOL-backed financing is particularly noteworthy from a capital efficiency perspective.
However, expanding a cryptocurrency treasury strategy through borrowing could increase financial risks during periods of falling prices.
The USHP investment also indicates that the company aims to develop alternative revenue streams rather than simply accumulating SOL.
Looking ahead, changes in SOL's price, staking yields, and the actual income generated by new investments will be key factors determining the company's financial performance.
Spotted an error? Let us know · Our editorial standards
Disclaimer: This content is for informational purposes only and is not investment advice. Cryptocurrencies are high-risk; make investment decisions based on your own research.
Content Editor and Writer
Dr. Mesut İnan is a researcher, academic and crypto journalist who has been producing content about cryptocurrencies since 2018. He brings a different perspective to the industry by combining his expertise in sociology with the cryptocurrency ecosystem. Before joining Kriptofoni as co-founder, content editor and writer, İnan worked for several cryptocurrency media platforms: he was an editor and writer at Kriptokoin from 2018 to 2023 and at COINTURK from 2023 to 2024. İnan made a valuable contribution to the ecosystem with his book on Bitcoin, "Bitcoin Sen Bizim Her Şeyimizsin" (Bitcoin, You Are Our Everything). Alongside his academic background, his regular analyses, news and commentary have made him one of the well-known names in cryptocurrency journalism in Turkey. İnan continues his work as a writer and educator and remains a prominent expert voice in the cryptocurrency field.
All articles