Shares of DeFi Development Corp. (NASDAQ:DFDV) climbed 10.6% after the company revealed it is on the verge of holding 1 million Solana (SOL) tokens, with its balance now totaling 999,999 SOL and equivalents — a position worth approximately $181 million.
Between July 14 and July 20, the firm acquired 141,383 SOL at an average cost of $133.53 per token, bringing its total investment for the week to around $19 million. The new purchase adds to its previous SOL holdings of 857,749.
Positioning itself as the first publicly listed company to adopt a treasury model centered on Solana accumulation and compounding, DeFi Development Corp. also generated 867 SOL during the week through staking, validator operations, and other on-chain income streams.
The company’s self-reported SOL per Share (SPS) rose roughly 13% week-over-week to 0.0514, equating to $9.30 per share. As of July 18, 2025, the total number of shares outstanding stood at 19,445,837.
To finance the recent acquisition, the firm tapped its Equity Line of Credit (ELOC) facility, raising $19.2 million in net proceeds through the issuance of 740,000 common shares. DeFi Development Corp. emphasized that this draw represents just 0.4% of its total ELOC capacity, leaving roughly $4.98 billion available.
The company stated that the newly acquired SOL will be held for the long term and staked to generate yield. As of July 20, 2025, nearly all of its unlocked tokens were being staked through validator nodes operated by DeFi Development Corp. itself.
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