PHXvsHSDT
Phoenix Group PLC vs Solana Company
Side-by-side crypto treasury comparison across tokens: PHX (Bitcoin) vs HSDT (Solana). USD market value is directly comparable; token-native amounts are shown for context. Numbers refresh every 5 minutes.
Mixed-token comparison. PHX holds Bitcoin, HSDT holds Solana — token-native amounts are shown side-by-side for context, but USD market value is the only directly comparable metric.
PHX
Phoenix Group PLC
🇦🇪 AE
641 BTC
$41.5M market value
HSDT
Solana Company
🇺🇸 US
2,071,127 SOL
$160.5M market value
Metric
PHX
HSDT
Holdings (BTC / SOL)
641 BTC
2,071,127 SOL
Market value of treasury
$41.5M
$160.5M
Average cost per token
$65,230.69
$217.17
Total cost basis
$41.8M
$449.8M
mNAV (market cap ÷ token value)
—
0.62×
Last disclosed purchase
Dec 31, 2025
May 15, 2026
Country
- Dec 31, 2025+-300 BTC$26.5M
- Sep 30, 2025+-100 BTC$11.4M
- May 15, 2026+0 SOL—
- May 15, 2026+6,410 SOL$590.5K
- May 15, 2026+0 SOL$52.1K
PHX vs HSDT: frequently asked
Which company has a larger crypto treasury by USD value, PHX or HSDT?▾
PHX (Bitcoin) holds 641 BTC worth $41.5M. HSDT (Solana) holds 2,071,127 SOL worth $160.5M. HSDT has the larger USD-value treasury — roughly 3.9× larger.
Can you compare PHX's BTC holdings directly to HSDT's SOL holdings?▾
Not in token-native amounts — PHX holds Bitcoin and HSDT holds Solana, so "641 BTC" and "2,071,127 SOL" measure different assets. The honest comparison is USD market value: $41.5M vs $160.5M at current prices.
What's PHX's cost basis per BTC, and HSDT's per SOL?▾
PHX's average cost is $65,230.69 per BTC. HSDT's is $217.17 per SOL. These aren't directly comparable across tokens — each is the company's average against its own asset.
When did PHX last buy Bitcoin?▾
PHX disclosed a -300 BTC purchase on December 31, 2025.
When did HSDT last buy Solana?▾
HSDT disclosed a 0 SOL purchase on May 15, 2026.