Latest Purchase by DeFi Developer Elevates Solana Treasury to $218 Million

DeFi Development Expands Solana Holdings to $218M, Eyes Further Accumulation

DeFi Development (Nasdaq: DFDV), a publicly traded firm executing a Solana-focused crypto treasury strategy, announced on Tuesday that it has increased its Solana (SOL) holdings to roughly 1.18 million tokens — currently valued at approximately $218 million.

Between July 21 and July 28, the company acquired 181,303 SOL at an average price of $155.33, according to a press release. The purchase was funded primarily through its $5 billion equity line of credit, which DeFi Dev has tapped for strategic asset accumulation.

This latest acquisition boosted the firm’s Solana-per-share (SPS) metric by 12% to 0.0575 — the second consecutive week of double-digit SPS growth. The SPS figure has become a key metric for investors tracking DeFi Dev’s crypto-backed balance sheet expansion.

During the same week, the firm issued roughly 975,000 new shares, raising $20 million in proceeds. That brings its total month-to-date fundraising from the credit line to $39 million, with around $10 million still allocated for future SOL purchases. Notably, the company has drawn less than 1% of the total credit facility.

All new SOL holdings will be staked across multiple validators, including DeFi Dev’s own infrastructure, to generate yield and compound long-term returns.

Formerly known as Janover, a real estate technology platform, DeFi Dev is among a wave of publicly listed firms leveraging capital markets to build crypto treasuries. The strategy mirrors the approach pioneered by Strategy (MSTR) with bitcoin, but instead centers on the Solana ecosystem.