Nasdaq-listed treasury firm, DeFi Development Corp., has significantly bolstered its Solana (SOL) holdings again. This time, the company acquired 110,000 SOL for approximately $22 million.
The company executed the purchase at an average price of $201.68 per SOL, according to its announcement via a press release today. The acquisition raises the firm’s total Solana holdings to 1,420,173 SOL, valued at approximately $265 million.
The purchase also sharpened the firm’s key performance indicator — SOL per Share (SPS). Its report revealed that the metric rose to 0.0675 as of August 14, representing a 9% increase from its earlier reading of 0.0619. With over 21.04 million shares outstanding, its SPS is at about $12.61 according to price data from CoinMarketCap at press time.
Interestingly, the firm aims to provide shareholders direct economic exposure to SOL while actively engaging in the growth of the Solana ecosystem. Given its treasury strategy, DeFi Dev Corp. plans to stake the newly acquired crypto asset across different validators (including its infrastructure) to generate native staking rewards.
DeFi Dev Corp. Partners Solflare
Before the latest purchase, DeFi Dev Corp. established a collaboration with Solflare, one of the most widely used Solana-native wallets with over four million active users. Solflare has now become its official wallet provider, serving as the default wallet across the company’s entire product suite.
Additionally, the Solflare Card will be adopted as the standard payment method for all DeFi Dev employees. Both parties plan to co-develop educational resources and drive their co-market initiatives to raise awareness of their on-chain products, such as liquid staking and tokenized equity offerings.
According to Parker White, DeFi Dev’s COO and CIO, the partnership with Solflare is vital in deepening its presence within the Solana ecosystem. The collaboration aligns with the firm’s treasury strategy while leveraging Solflare’s large user base to support DeFi education and adoption.
How DeFi Dev Corp Has Been Faring
Established initially as Janover, a real estate firm, the company pivoted in early April 2025 under new leadership by former Kraken executives. It rebranded as DeFi Development Corp. and adopted Solana as its primary treasury asset. The first SOL acquisition to follow the shift was the purchase of 88,164 SOL, funded via a $42 million financing round.
DeFi Dev’s smallest reported SOL was 16,447 SOL for $2.3 million at an average of $139.66 executed in May. Interestingly, its largest purchase came recently as the acquisition of 181,303 SOL ($28 million). Notably, the firm has continued scaling its holdings, with acquisitions funded via an Equity Line of Credit (ELOC), private placements, and convertible notes.
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