DeFi Development Corp Increases Solana Treasury Holdings to 2.39M SOL
Nasdaq-listed DeFi Development Corp (NASDAQ: DFDV) has increased its Solana treasury holdings by approximately 55,491 SOL, bringing the total to around 2.39 million SOL and equivalents. The company reported a roughly 2% growth in its Solana holdings since August 27 as it resumed regular purchases and continued generating yield from existing assets. Alongside this expansion, DeFi Development announced plans for a $300 million at-the-market offering of its CHAD perpetual preferred stock with an initial annual dividend rate of 13%. The company intends to use most proceeds to fund additional Solana acquisitions. CEO Joseph Onorati highlighted the strong performance and growth in organic yield from their strategy. The move aligns with growing institutional interest in Solana, evidenced by Bitwise's recent $1 billion milestone for its Solana ETF. At current prices, DeFi Development shares are up 1.5% on the day but down 3.56% year-to-date.
