DeFi Builder Adds to Solana Holdings, Pushing Treasury Value to $218M

DeFi Development Grows Solana Holdings to $218M, Taps Equity Credit Facility

DeFi Development (DFDV), a Nasdaq-listed firm focused on digital asset treasury strategies, has increased its Solana (SOL) holdings to approximately 1.18 million tokens, now valued at around $218 million.

The company disclosed it acquired 181,303 SOL between July 21 and July 28 at an average price of $155.33, using funds from its $5 billion equity line of credit. The purchase includes both liquid and locked SOL and reflects DeFi Dev’s ongoing commitment to Solana as its primary crypto treasury asset.

As a result, the firm’s Solana-per-share (SPS) ratio rose 12% to 0.0575, continuing a trend of double-digit weekly increases. SPS is DeFi Dev’s key performance metric, tied directly to its crypto balance sheet strategy.

To fund the acquisition, the company issued 975,000 new shares last week, raising $20 million—bringing July’s total to $39 million. Approximately $10 million remains allocated for future Solana purchases. So far, the company has utilized less than 1% of its available $5 billion credit facility.

The newly acquired tokens will be staked across various validators, including DeFi Dev’s proprietary nodes, in an effort to generate yield and reinforce long-term holdings.

Previously known as Janover, the company has shifted focus to emulate Strategy’s (MSTR) bitcoin treasury model—this time with Solana—marking a growing trend of public firms using equity and debt to gain crypto exposure.