Catenaa, Tuesday, May 20, 2025-DeFi Development Corp. said Tuesday it has acquired 82,404.50 Solana (SOL) tokens valued at approximately $11.2 million, pushing its total holdings to 400,091 SOL, worth an estimated $58.5 million including staking rewards.
The announcement comes five days after the real estate software firm-recently rebranded from Janover-closed a $24 million private investment in public equity deal to expand its Solana-focused treasury strategy.
Based on the firm’s 2,001,887 outstanding shares, SOL per share now stands at 0.199, equating to a per-share value of $29.24.
“A portion of the Solana acquired includes locked SOL sourced via BitGo’s OTC desk,” the company said.
These tokens are subject to time-based unlock schedules and will be staked to generate yield.
DeFi Development Corp. has pivoted aggressively into the Solana ecosystem since April 22, when former Kraken executives acquired a controlling stake in the company.
The firm is also acquiring an unnamed Solana validator business for $3.5 million to support self-staking, further aligning with its strategy of long-term SOL accumulation and yield generation.
The company’s transition positions it as one of the most aggressive institutional buyers of SOL, aiming to replicate strategies akin to Michael Saylor’s Bitcoin accumulation at MicroStrategy.
Solana is the sixth-largest cryptocurrency by market capitalization
The token is down about 1% on the day but remains a centerpiece of DeFi Development Corp.’s blockchain investment thesis.
