DeFi Development Expands Solana Holdings to $218M Through Strategic Equity Line
DeFi Development (Nasdaq: DFDV), a digital asset firm pursuing a treasury strategy centered on Solana (SOL), has expanded its holdings to approximately 1.18 million SOL — a position now valued at $218 million.
In a press release issued Tuesday, the company disclosed the acquisition of 181,303 SOL tokens between July 21 and July 28 at an average price of $155.33 per token, including both liquid and locked assets. The purchase was primarily financed through its $5 billion equity line of credit.
The latest accumulation raised DeFi Dev’s Solana-per-share (SPS) metric by 12% to 0.0575, marking the second week in a row of double-digit SPS growth — a key indicator of the firm’s on-chain exposure per outstanding share.
Over the past week, DeFi Dev issued roughly 975,000 new shares, raising $20 million in fresh capital, bringing the July total to $39 million. Of that, $10 million remains allocated for upcoming SOL purchases. The firm has so far drawn less than 1% of its total credit facility.
The newly acquired tokens will be staked across a range of validators, including DeFi Dev’s own, to generate staking rewards and support long-term yield compounding.
Previously known as Janover, DeFi Development is part of a growing cohort of publicly traded companies adopting crypto treasury strategies by issuing equity or debt. The firm’s model echoes the blueprint established by Strategy (MSTR) with Bitcoin but focuses instead on the Solana blockchain.
