DeFi Development Corp increases Solana holdings to 2.5 million SOL

DeFi Development Corp (NASDAQ: DFDV) has reported significant growth in its Solana (SOL) holdings and net asset value per share. The company, which operates as a digital asset treasury firm, added approximately 26,203 SOL to its treasury between September 28 and October 2, bringing its total holdings to 2,564,212 SOL and SOL equivalents. The company values this treasury at approximately $302 million.

Chief Strategy Officer Dan Kang noted that the company's SOL balance increased by a double-digit percentage between August 12 and September 30. While the pace of accumulation has slowed compared to previous weeks, CEO Joseph Onorati stated that the treasury has grown by 11% since mid-August. The company aims to provide investors with amplified exposure to Solana through its capital structure and treasury strategy.

In August, the company also moved to simplify its operations through cost reductions, the divestment of ZeroStack, and a decision to concentrate on core activities. Additionally, the company paid its first 13% dividend on its CHAD preferred stock on October 1.