DeFi Development acquires nearly $15 million in SOL, pushing Solana holdings above 2 million tokens

DeFi Development Corp. (ticker DFDV) has acquired an additional 62,745 SOL, valued at approximately $14.6 million at today's prices.

This bumps the company’s total holdings of SOL to over 2 million SOL, worth nearly $500 million, according to The Block’s price page.

With about 25 million shares outstanding, not counting pre-paid warrants, that brings DeFi Development's "SOL per Share" metric to about $19.44, in dollar terms. Counting the warrants given during a recent financing round bumps the DFDV share count to 31.5 million.

Like for its previous acquisitions, the treasury company intends to stake its recently purchased tokens "to a variety of validators," including a Solana validator run in-house.

Founded earlier this year by a team of former Kraken employees, DeFi Development executes a strategy of buying and staking SOL and Solana-related tokens, like the Dogwifhat memecoin. It also offers validator services, including for crypto exchange Kraken.

The company is one of the largest digital asset treasuries (DATs) focused on the Solana ecosystem, alongside Upexi and Sharps. Forward Industries, the recently launched SOL DAT backed by Galaxy Digital, Jump Crypto, and Multicoin Capital, is by far the largest holder, according to The Block's data.

Last month, DeFi Development expanded across the Atlantic to become the "first Solana-focused public treasury vehicle in the United Kingdom" through an acquisition of a London Stock Market-listed firm.