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DeFi Development Corp. (DFDV) acquired 110,000 SOL tokens at an average price of $201.68, representing a total purchase value of approximately $22 million, the company announced August 15.
The acquisition increased the company’s total SOL holdings to approximately 1,420,173 SOL and SOL equivalents, up from 1,301,653 previously. The company values its current SOL position at approximately $273 million.
DeFi Development Corp.’s SOL per share metric rose to 0.0675 as of August 14, representing a 9% increase from the previous reading of 0.0619. The company has 21,045,049 total shares outstanding.
The newly acquired SOL will be held long-term and staked to validators, including the company’s own Solana validators, to generate yield. DeFi Development Corp. describes itself as the first public company with a treasury strategy focused on accumulating Solana tokens.
The company operates validator infrastructure on the Solana network and participates in decentralized finance opportunities. It also runs an AI-powered online 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. The company’s real estate services are offered on a subscription basis as software-as-a-service.