What to Know:
- DeFi Dev now holds 2.09M SOL, valued at nearly $499M.
- Latest 62,745 SOL buy is fully staked to earn yield and support Solana security.
- With SPS at $19.44, DeFi Dev signals more purchases ahead.
DeFi Development Corp. (Nasdaq: DFDV), is once again making headlines with its aggressive push into Solana. Today, the company announced on Twitter that it had purchased another 62,745 SOL, worth about $15 million at current market prices. This brings its Solana treasury to a massive 2,095,748 SOL, valued at nearly $499 million.
“All newly acquired $SOL is being staked immediately, earning native yield while helping secure the Solana network,” the company stated in its post.
Building a Solana Treasury
In April 2025, the company started buying SOL for about $41.5 million. It was a turning point because it changed its treasury strategy from traditional reserves to digital assets, with a clear focus on Solana.
The company made a big move in May when it bought a Solana validator business that already had about 500,000 SOL staked. It then added 82,404 SOL through direct purchases a short time later. These first steps showed DeFi Dev’s plan to help Solana’s network security while also making money.
By July, the pace accelerated. A series of buys 17,760 SOL, then 47,272 SOL, followed by a major 153,225 SOL purchase quickly pushed holdings past 800,000 SOL. Later that month, DeFi Dev grabbed another 141,000 SOL in just one week, reaching the symbolic milestone of 1 million SOL in its treasury.
Raising Capital to Buy More
To fuel this aggressive strategy, DeFi Dev raised $125 million through an equity offering in late August. The company wasted no time putting that money to work, buying more than 400,000 SOL at the end of the month. Just days later, it added nearly 200,000 SOL, pushing its treasury above 2 million SOL for the first time, worth more than $427 million.
Now, with this latest 62,700 SOL purchase, the Solana treasury is closing in on the half-billion dollar mark. Each of the company’s 25.6 million outstanding shares now represents 0.0816 SOL, with a “SOL Per Share” (SPS) value of $19.44.
A Bigger Strategy
While the numbers are eye-catching, DeFi Dev insists that its strategy goes beyond simply buying and holding. All of its tokens are staked to earn yield and to help secure Solana’s blockchain. The company has also launched programs like the DFDV Treasury Accelerator and has formed partnerships with firms like Gemini for staking solutions.
On top of that, DeFi Dev has even tokenized its own stock on Solana via Kraken, blurring the lines between traditional finance and crypto. Backed by a $5 billion credit line and a steady stream of equity raises, the company is signaling that more purchases may be on the way.
Institutional Confidence in Solana
Last month, DeFi Dev told investors in a shareholder letter that digital asset treasuries could be the “next frontier of crypto.” By aggressively building a Solana treasury, it is trying to position itself as a pioneer in this space. Other big names like Galaxy Digital have also been exploring Solana, showing that institutional interest is gaining momentum.
For Solana itself, this is another vote of confidence. Network upgrades such as Alpenglow, which promises faster transaction speeds, have already sparked optimism in the ecosystem. Having major institutions like DeFi Dev stake large amounts of SOL only adds to that momentum.
What’s Next?
With nearly $500 million in Solana now under management, DeFi Dev stands out as one of the most committed corporate players in the crypto world. The company’s rapid growth going from 317,000 SOL in April to over 2 million SOL by September is nothing short of remarkable.
As DeFi Dev put it in today’s announcement: “The $SOL stackin’ continues.” For now, one thing is clear, this company is betting big on Solana, and it’s not slowing down anytime soon.
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