• DeFi Development Corp increased its Solana holdings to 640585 SOL now valued at around 96 million USD.

  • DDC secured 112.5 million in funding to support Solana purchases and strengthen its treasury strategy.

  • Sol Strategies holds over 420000 SOL and plans Nasdaq listing to expand its Solana focused operations.

DeFi Development Corp. (DFDV) disclosed a fresh purchase of 17,760 Solana tokens this week. The announcement came Thursday, showing the company’s growing focus on crypto-backed treasury assets. This latest acquisition brings DDC’s total Solana holdings to 640,585 SOL, now valued at around $96 million.

https://twitter.com/HashNews01/status/1940948327954346072

The company revealed that it bought the new tranche at an average price of $153.10 per token. The total investment amounts to approximately $2.72 million. This move follows a string of token purchases since April after former Kraken executives took over the company. DDC has become one of several firms pivoting towards proof-of-stake assets for long-term staking yield.

Funding Strategy Backs Continued Solana Accumulation

To support these purchases, DDC secured $112.5 million in private funding earlier this week. From the proceeds, $75.6 million will be allocated to a prepaid forward stock purchase deal. The structure is designed to lower risk for convertible note buyers. The remaining funds will support company operations and future SOL acquisitions.

The company had earlier raised $42 million and secured a $5 billion line of credit. While DDC withdrew a proposed $1 billion Solana investment last month, it continues to reinforce its long-term stake in Solana. The firm maintains a SOL-per-share ratio of 0.042 as of July 3.

Shares Rally as Investors React to Solana Moves

Following the latest investment disclosure, DDC shares rose 17% on Thursday, closing at $23.80. After-hours trading pushed the stock up another 0.8 percent to $24. This two-day surge marks a nearly 30% recovery from Wednesday’s low. However, shares still sit 33% below the May high of $35.53. Year-to-date, the stock has gained over 2,700%.

Despite this rally, DDC’s recent earnings report revealed challenges. Net revenue dropped 30%, and profit margin declined by 15.5% compared to last year’s figures. The company plans to maintain flexibility in its treasury to protect investors during market downturns.

Sol Strategies Also Deepens Solana Holdings

Other firms are following a similar approach. Canadian-based Sol Strategies now holds over 420,000 SOL tokens. The company has filed to list on the Nasdaq under the ticker STKE. It also secured a $500 million facility to support further Solana acquisitions.

Sol Strategies recently filed a $1 billion shelf prospectus to back Solana-focused initiatives. The firm will continue using Canadian governance rules as a foreign private issuer.