DeFi Dev Lifts Solana Holdings to $218M, Tapping Equity Credit Facility
Nasdaq-listed DeFi Development (DFDV) has expanded its Solana (SOL) treasury to approximately 1.18 million tokens, now valued at $218 million, as the firm continues to ramp up its crypto accumulation strategy.
In a press release Tuesday, the company said it purchased 181,303 SOL between July 21 and July 28 at an average price of $155.33, including both liquid and locked-up assets. The acquisition was primarily funded via its $5 billion equity line of credit.
The move boosted the company’s Solana-per-share (SPS) metric by 12% to 0.0575—marking a second straight week of double-digit growth. SPS serves as a key performance benchmark for the firm’s treasury strategy.
To finance the purchase, DeFi Dev issued approximately 975,000 shares over the past week, raising $20 million. That brings its total capital raised this month via the facility to $39 million, with about $10 million still earmarked for future Solana acquisitions. The firm has used less than 1% of its credit facility so far.
All newly acquired SOL will be staked across multiple validators, including DeFi Dev’s own infrastructure, in an effort to generate staking rewards and enhance long-term token compounding.
Previously operating as real estate tech firm Janover, DeFi Dev is part of a growing cohort of public companies emulating Strategy’s bitcoin treasury model—this time with a focus on Solana.
