DeFi Development Corp., a publicly traded company focused on the Solana digital asset treasury (DAT), announced on Friday that its holdings of SOL tokens have reached a value of approximately $263 million. This significant accumulation is a result of both strategic purchases and rewards from its staking activities.
In a statement, the company confirmed it holds roughly 1,420,173 SOL and SOL equivalents. This includes a recent acquisition of 110,000 SOL at an average price of $201.68, totaling an investment of about $22 million. On the day of the announcement, Solana’s price was approximately $184.00, bringing the total value of their holdings to nearly $263 million.
DeFi Development, which was previously known as the real estate tech firm Janover, is one of the leading public companies pursuing an aggressive Solana purchasing program. The company also engages in staking SOL, both for itself and for others, which provides a revenue stream similar to that of Bitcoin mining. This trend of building SOL treasuries is also being followed by other companies such as Upexi and Sol Strategies.
To finance its operations, DeFi Development completed a $122.5 million convertible debt offering in July. These notes have a 5.5% annual interest rate and will mature in 2030.
The company measures the success of its staking business using a metric it calls “Annualized Organic Yield” (AOY). Based on this, the firm estimates an AOY of 10%, which would generate approximately $63,000 in daily revenue denominated in SOL from its 1.3 million SOL stockpile.
