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Investing.com -- DeFi Development Corp. (NASDAQ:DFDV) shares surged 8.2% after the company reported second quarter earnings that highlighted significant growth in its Solana holdings and staking operations.
The Solana-focused treasury company reported second quarter earnings per share of $0.84 on revenue of $1.97 million. The company’s primary metric, Solana Per Share (SPS), reached 0.0619 as of August 12, representing a 47% increase from June 30. DFDV reported that in July alone, it raised $165 million in capital while increasing SPS by 34% month-over-month.
"DeFi Dev Corp. is more than a vehicle to accumulate SOL - it’s becoming the connective tissue between DeFi and TradFi," said Joseph Onorati, Chief Executive Officer. "We are the first public equity vehicle to integrate deeply with the onchain economy, compound validator yield, and bring institutional capital directly into Solana."
The company’s validator infrastructure generated an estimated Annualized Organic Yield (AOY) of approximately 10% in the second quarter, translating to about $63,000 per day in SOL-denominated revenue. DFDV’s total SOL holdings reached 1,301,653 as of August 11.
DFDV maintained its guidance of 0.165 SPS by June 2026 and 1.000 by December 2028, representing 167% growth from current levels. The company also closed a $122.5 million convertible debt raise in July led by Cantor Fitzgerald, with an initial conversion price of approximately $23.11 per share.
The company has differentiated itself from other crypto treasury vehicles by integrating with Solana DeFi platforms and launching DFDVx, its tokenized equity that enables 24/7 trading and composability with DeFi infrastructure.
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