Sharps Technology, Inc. (STSS) announced a strategic partnership with BitGo Bank & Trust, a regulated digital‑asset custodian, to expand its Solana (SOL) treasury operations. The deal brings together BitGo’s qualified custody services, its Solana staking validator, and over‑the‑counter trading capabilities into a single institutional platform for STSS’s SOL holdings.
The collaboration is designed to consolidate custody, staking, and liquidity execution, giving STSS a secure and scalable foundation for its growing Solana portfolio. By leveraging BitGo’s infrastructure, STSS can streamline operations, reduce operational risk, and potentially increase yield from staking rewards while maintaining regulatory compliance.
The partnership reflects STSS’s broader pivot toward a digital‑asset treasury strategy, which now represents a significant portion of its balance sheet. The company continues to report net losses and declining revenue in its core medical‑device business, underscoring the importance of the crypto‑focused treasury as a potential source of future cash flow and risk mitigation.
Investor sentiment toward crypto‑focused companies has been cautious amid a broader cryptocurrency sell‑off that has weighed on market confidence. The partnership signals STSS’s intent to strengthen its treasury operations in a volatile environment, highlighting the company’s reliance on Solana’s performance and the need for robust custodial and staking solutions.
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