DeFi Development Corp has further strengthened its Solana position with a $77 million acquisition, adding 407,247 SOL at an average cost of $188.98. This boosts the firm’s total to 1.83 million SOL, valued around $371 million, representing a 29% jump from its earlier 1.42 million balance.
The purchase, funded by an equity raise, highlights the firm’s aggressive Solana strategy. Management disclosed that $40 million in proceeds remain available for future allocations, signaling potential further acquisitions. Importantly, the new holdings will be staked across multiple validators, including the company’s own infrastructure, to generate yield while reinforcing its role in the Solana ecosystem.
The company also reported a SOL-per-share ratio of 0.0864, or $17.52, even after financing dilution. This expansion follows DeFi Dev Corp’s July milestone of becoming the largest public Solana holder. Meanwhile, market chatter grows as other firms aim to raise $1 billion for what could become the largest SOL treasury to date.
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