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DeFi Development Corp. (DFDV) purchased 110,466 SOL tokens for approximately $18.4 million at an average price of $166.61 per token, the company announced. The purchase increased the company’s total SOL holdings to approximately 1.29 million tokens valued at around $209 million.
The acquisition raised the company’s SOL per share metric to 0.0618 as of August 1, representing a 7% increase from the previous reading of 0.0575. DeFi Development Corp. has 20,943,736 shares outstanding.
The company’s SOL holdings increased 9% from its previous balance of 1,182,685 tokens. The newly acquired tokens will be held long-term and staked to validators, including the company’s own Solana validators, to generate yield.
DeFi Development Corp. operates under a treasury policy that allocates its principal holdings to SOL tokens. The company also runs validator infrastructure on the Solana network and participates in decentralized finance activities.
The company additionally operates an AI-powered platform serving the commercial real estate industry, providing data and software subscriptions to property professionals. The platform serves more than one million web users annually, including property owners, developers, and lenders representing billions of dollars in financing activity.