Nasdaq Firm DeFi Dev Corp. Hits 999,999 SOL Treasury Mark

On Monday, DeFi Development Corp. announced its treasury now holds 999,999 Solana ( SOL) tokens and equivalents.

DeFi Dev Corp. Grows Solana Holdings to 999,999 Tokens

The Boca Raton-based company, DeFi Development Corp. (Nasdaq: DFDV), added 141,383 SOL between July 14 and July 20, according to a July 21 statement. The purchases, including spot buys and discounted locked SOL, averaged $133.53 per token, totaling approximately $19 million. This increased its holdings from 857,749 SOL reported previously.

Approximately 867 SOL of the total growth came from organic sources like staking rewards and validator revenue during that same period, the company’s release noted. The total SOL holding was valued at roughly $181 million as of July 20.

DeFi Dev Corp. also disclosed raising about $19.2 million net this month through an Equity Line of Credit facility. It issued 740,000 shares of common stock for the funding. The company stated that approximately $5 million of these proceeds remains available, primarily earmarked for future SOL acquisitions. It has utilized 0.4% of the total ELOC capacity.

The announcement further notes that all of the company’s unlocked SOL is staked to its own validator infrastructure, generating yield. Its validators also process third-party delegated stake, creating additional fee revenue. DeFi Dev Corp. isn’t going solo—it’s part of a trend where companies are mixing altcoins like SOL and ETH into their financial portfolios.

Alongside holding and staking SOL, DeFi Dev Corp. operates an artificial intelligence (AI)-powered online platform serving the commercial real estate industry with data, SaaS subscriptions, and services. Its clients include property owners, developers, lenders, and service providers. DFDV’s stock has been stuck in a slump—dipping 1.19% today, sliding over 10% in the past week, and tumbling more than 23% in the last month.