Sharps Technology Adopts Poison Pill and Expands Bitcoin Treasury Through Coinbase

Sharps Technology (STSS) adopted a limited-duration stockholder rights plan and expanded its digital asset treasury strategy through Coinbase (COIN) in two separate press releases published May 15. The rights plan, commonly called a poison pill, limits any single shareholder from crossing a 15% ownership threshold without board approval.

The treasury expansion adds Bitcoin purchases to an already-running accumulation program, according to both filings.

Sharps Technology Bitcoin Treasury Details

The company’s Q1 2026 earnings release published May 15 said the treasury strategy is executed through Coinbase’s institutional custody and trading infrastructure. The filing did not specify the total number of Bitcoin (BTC) held or the dollar value of purchases made in the quarter.

Sharps Technology trades on the Nasdaq under the ticker STSS and operates in the medical device sector, manufacturing safety syringes and drug delivery systems. The company began building a digital asset reserve position in 2025 as part of a broader balance sheet diversification effort.

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The Stockholder Rights Plan

A separate release published the same day outlined the poison pill terms.

If any party acquires 15% or more of STSS common stock without board consent, existing shareholders gain the right to purchase additional shares at a discount. This dilutes the acquiring party’s stake.

The plan expires in one year unless shareholders vote to extend it. Sharps Technology’s board said the measure is intended to protect stockholder value and give the board time to evaluate any unsolicited acquisition attempt.

The company did not name any specific acquirer or activist investor as the trigger for the plan.

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Background

Corporate adoption of Bitcoin as a treasury reserve asset has accelerated since MicroStrategy (MSTR) first moved its cash reserves into Bitcoin in August 2020. Since then, a growing number of smaller Nasdaq-listed companies have followed a similar playbook, purchasing Bitcoin through institutional brokers and custodians.

Coinbase has emerged as a primary infrastructure provider for these programs, offering both custody and over-the-counter trading services to public companies. Sharps Technology’s decision to pair a treasury expansion with a poison pill suggests the board may be anticipating increased shareholder scrutiny or external pressure tied to the accumulation strategy.

Also Read: Interactive Brokers Expands Cryptocurrency Futures Access Through Coinbase Derivatives

What to Watch

Sharps Technology has not disclosed a target Bitcoin holding size or a per-share acquisition cost.

Investors will watch the next quarterly filing for a full accounting of the treasury position. The one-year expiration on the rights plan means the board must revisit shareholder approval by May 2027.

Any stake-building above 10% by an undisclosed party before that date would likely trigger the pill’s dilution mechanism and force a public disclosure.

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