DeFi Development Corp. is emerging as a key player in the cryptocurrency space. The company recently raised $19 million through an Equity Line of Credit to buy more Solana (SOL) coins. With the purchase of 141,383 SOL at an average price of $133.53, DeFi Development now holds a total of 999,999 SOL, valued at approximately $192 million.
$19M Raise Fuels Solana Acquisition
DeFi Development Corp. raised $19.2 million by issuing 740,000 shares through its Equity Line of Credit. This funding allowed the company to buy 141,383 SOL tokens between July 14 and July 20. The average purchase price was $133.53, totaling approximately $19 million.
Staking its SOL tokens means the company is locking them in the Solana network to help process transactions and earn rewards each week. This strategy boosts revenue while helping to secure and support the Solana network.
Since rebranding to DeFi Development Corp. in April 2025, the company has actively bought SOL tokens, completing at least 10 purchases. Key buys include 172,670 SOL for $23.6 million in May, 47,272 SOL for $7.03 million, and 17,760 SOL for $2.72 million earlier in July. This also includes a $100 million raise earlier this month to fuel more buys.
A Strong Attachment to SOL
The company uses a $5 billion equity line with RK Capital to fund these purchases without affecting the market. DeFi Development also operates Solana validators, enabling it to earn additional revenue from staking tokens alongside third-party investors. This approach makes it the largest public holder of Solana and aims to reach one SOL per share by 2028.
DeFi Development Corp. is committed to increasing its SOL holdings, with a goal to surpass one million SOL soon. By staking its tokens and running validators, the company can grow its treasury and support the Solana ecosystem. With $4.98 billion left in its credit facility, it is likely to make more purchases. The goal is to hold one SOL per share by 2028, giving investors substantial exposure.
Meanwhile, Mercurity Fintech Holding Inc. announced that it secured a $200 million equity line of credit from Solana Ventures Ltd. to establish a Solana-based digital asset treasury strategy. The initiative focuses on accumulating a significant position in Solana (SOL) tokens, generating yield through staking, validator nodes, and Solana decentralized finance (DeFi) protocols.
