- DeFi Development Corp added over 2M Solana tokens to its treasury in just 8 days.
- The company plans to stake its Solana holdings to earn rewards through validator infrastructure.
- DFDV stock fell over 7% even as the firm expanded its crypto holdings and UK operations.
DeFi Development Corp has expanded its Solana holdings to over 2 million tokens in less than two weeks. The Nasdaq-listed company acquired an additional 196,141 SOL on Thursday, spending $39.76 million at an average price of $202.76. This move follows a $77 million Solana purchase made last week.
With this latest acquisition, DeFi Development’s total SOL treasury now stands at 2,027,817 tokens. The combined holdings are worth approximately $412 million at current market prices. The firm began aggressively accumulating Solana in July and has since doubled its holdings.
Stock Declines Despite Crypto Accumulation
Shares of DeFi Development Corp, traded under the ticker DFDV, closed Thursday down 7.59% at $15.21. In after-hours trading, the stock recovered slightly, rising nearly 1% to $15.36.
Despite the drop, DFDV remains up 1,710% year-to-date. However, the stock is still down almost 57% from its peak of $35.53 reached on May 22. The recent decline comes amid growing scrutiny from the Nasdaq over crypto-related equity raises.
Earlier in the year, Cantor Fitzgerald initiated coverage of the stock . The firm gave it an overweight rating and set a $45 price target. Yet, volatility in the crypto market continues to weigh on the share price.
Staking Strategy and Treasury Policy
DeFi Development Corp plans to stake the newly purchased SOL to generate yield. The tokens will be distributed across multiple validators, including the company’s own. This strategy aligns with the firm’s broader Solana treasury policy, launched in April.
The company also operates validator infrastructure on the Solana network. It earns fees and rewards from delegated stakes. As of September 4, the company had 25.57 million shares outstanding. Based on these figures, the current Solana per share (SPS) value is 0.0793.
The company expects the SPS to remain above 0.0675, even when adjusted for outstanding warrants. An update reflecting these changes will be provided in future reports.
Business Diversification and Global Plans
Beyond its Solana-focused strategy, DeFi Development runs an AI-powered platform for commercial real estate data and analytics. This platform offers software and subscription services tailored to industry professionals.
Earlier this week, the company announced its expansion into the UK. It also revealed plans to launch five additional vehicles. These initiatives reflect its aim to grow both its core business and crypto treasury exposure.
In July, DeFi Development Corp boosted its Solana holdings to 640,585 SOL after $112.5 M funding as firms expanded crypto treasury strategies. At the time of publication, Solana traded at $202.90, marking a 3.5% decline.