DeFi Development Boosts Solana Holdings to $218M With Latest Acquisition

Nasdaq-listed DeFi Development (DFDV) has expanded its Solana (SOL) treasury to approximately 1.18 million tokens—valued at around $218 million—following a fresh purchase funded through its $5 billion equity line of credit.

Between July 21 and July 28, the firm acquired 181,303 SOL at an average price of $155.33 per token, according to a press release shared with CoinDesk. The acquisition includes both liquid and locked-up assets.

This latest move raised the company’s Solana-per-share (SPS) metric by 12% to 0.0575, marking a second straight week of double-digit SPS growth. SPS is DeFi Dev’s primary performance indicator tied to its crypto strategy.

During the same week, DeFi Dev issued roughly 975,000 new shares, raising $20 million. This brings its month-to-date fundraising total via the equity facility to $39 million, with about $10 million more earmarked for additional Solana purchases. To date, the company has drawn less than 1% of its total credit facility.

The newly acquired SOL tokens will be staked across multiple validators, including DeFi Dev’s in-house validator, to earn staking rewards and compound returns.

Formerly operating as real estate tech firm Janover, DeFi Development is part of a rising wave of public companies following the bitcoin treasury playbook pioneered by Strategy (MSTR)—but with a focus on Solana.