DeFi Dev Corp. Boosts SOL Stash to 999,999 With New $19M Purchase

DeFi Development Corp. has brought its Solana holdings to the edge of one million following a fresh acquisition worth $19 million. The company now holds 999,999 SOL and equivalents on its balance sheet.

The milestone follows the purchase of 141,383 SOL between July 14 and July 20, at an average price of $133.53 per SOL. The acquisition included both spot market tokens and discounted locked SOL.

Staking Activity and Organic Yield

In addition to purchases, the company’s holdings rose through staking and on-chain activity. About 867 SOL was generated organically during the same week.

The latest update shows a weekly increase of over 142,000 SOL from the previous balance of 857,749, bringing the total to 999,999 SOL. At current market prices, the stash is valued at approximately $181 million.

Reflecting this growth, DeFi Dev Corp. released updated per-share metrics, showing 0.0514 SOL per share. Notably, this figure represents a 13% rise compared to the prior week.

To support this yield strategy, the company continues to stake its unlocked SOL using its validator infrastructure. These validators also attract outside delegations, generating additional revenue streams.

DeFi Dev Corp. Taps Credit Line

To fund recent purchases, the firm tapped into its Equity Line of Credit, raising $19.2 million in July. This involved issuing 740,000 shares of common stock.

Approximately $5 million from the raised capital remains unused and may support further accumulation. So far, only 0.4% of the $5 billion credit facility has been accessed.

With its remaining capital and long-term vision in mind, DeFi Dev Corp. positions itself as the first public firm to center its treasury strategy on Solana. It plans to hold its SOL long-term while continuing to grow through staking and validator income.

The company has committed to sharing future updates through public announcements and regulatory filings. These disclosures will include any changes in treasury position or operational strategy.

Meanwhile, SOL traded above $199 on Monday before seeing a slight correction, trading around $196 at press time. Interestingly, this reflects a notable uptick from its April 7 low, when the asset fell below $100 to trade around $95.