DeFi Development Corporation, the first U.S. public company to build a Solana (SOL) treasury strategy, has significantly bolstered its Solana treasury. The company purchased 181,303 SOL between July 21 and July 28. The acquired asset is valued at approximately $28 million at an average purchase price of $155.33, including both spot and discounted locked SOL.
1/ Today, we announce that we’ve grown our holdings by 181,303 $SOL, bringing our balance to 1,182,685 SOL (~$218M)! 🚀
At an avg. purchase price of $155.33, our SOL Per Share (SPS) has risen +12% week-over-week to 0.0575, marking our 2nd week of double‑digit growth.
🧵 pic.twitter.com/rCHXZEvsJk
— DeFi Dev Corp. (@defidevcorp) July 29, 2025
DeFi Dev Corp. Acquires $28M SOL
DeFi Dev Corp funded the acquisitions through its Equity Line of Credit (ELOC), issuing approximately 975,000 common shares to raise $20 million. It brings the total capital raised in July to $39 million, with $10 million remaining available for future SOL purchases. To date, the firm has used only 0.8% of its total ELOC capacity, which stands at $4.96 billion.
The recent purchase move raised the company’s total holdings to over 1.18 million SOL, now worth about $218 million. The newly acquired assets have been staked across multiple validators, including the company’s infrastructure, to generate native yield and support network security. Notably, the initiative is part of the firm’s plans to manage a long-term treasury policy.
In a detailed X post, DeFi Dev Corp claims that its SOL per share (SPS) increased 12% week-over-week, rising from 0.0514 to 0.0575 as of July 28. The gains mark the second straight week of double-digit growth. Based on over 20.55 million shares outstanding, the SPS represents roughly $10.60 per share at current SOL valuations.
Interestingly, DeFi Dev Corp’s business model focuses exclusively on Solana exposure and SPS accretion. With nearly 1.2 million SOL on its balance sheet, the company offers investors direct capital-linked economic access to SOL. Via its recent announcement, the firm noted it will continue sharing updates on its treasury strategy through public filings and press releases.
Solana Garners Institutional Interest
Solana has witnessed a wider institutional interest in 2025, as public companies pivot toward solely Solana treasuries. These firms employ financial instruments, including Equity Lines of Credit, convertible debt, and private placements, to finance massive SOL accumulations.
Upexi has secured a new $500 million equity line agreement with A.G.P./Alliance Global Partners, aimed at expanding its Solana holdings. Its Solana acquisition program has already led to holdings of roughly 1.8 million SOL ($331 million).
Crypto mining firm BIT Mining, which traditionally focused on Bitcoin and Litecoin mining, plans to raise between $200 million and $300 million over multiple phases to fund its shift into a Solana treasury strategy.
