Solana-focused treasury firm DeFi Development Corp. (DFDV) has increased its crypto reserves to more than 1.3 million SOL, now valued at nearly $250 million.
According to its latest shareholder update, the company acquired over 4,500 SOL in just the first half of August.
CEO Joseph Onorati said the firm’s SOL per Share (SPS) reached 0.0619, up more than 47% since the end of June. July marked one of the company’s fastest growth periods on record, with $165 million raised (net of fees) and a 34% month-over-month increase in SPS.
A Treasury Model Built for Staking
Like other digital asset treasury companies, DDC raises funds from accredited investors to purchase crypto, following a model popularized by Michael Saylor’s Strategy. However, Onorati highlighted that Solana’s proof-of-stake design offers a productivity edge over Bitcoin by generating staking rewards alongside potential price gains.
In July, DDC completed a $122.5 million convertible debt raise led by Cantor Fitzgerald. The firm tracks its validator performance through an “Annualized Organic Yield” metric, which currently stands at 10%. Based on its current holdings, that equates to roughly $63,000 in daily staking revenue.
Strong Financial Performance and Network Expansion
DDC reported $1.98 million in quarterly revenue, a sharp increase from $400,000 in the same period last year. Net income rose to $15.4 million, reversing a $800,000 loss from the prior year.
The company has been actively scaling its validator infrastructure, securing third-party delegations, and increasing its share of total staking rewards on the Solana network. Founded by former Kraken executives, DDC has also signed a validator agreement with the exchange and operates validators for Solana-based tokens, including popular memecoin Dogwifhat, sharing staking rewards with its community.
Investor sentiment was upbeat following the announcement, with DDC shares climbing 18% during Tuesday’s regular session to close at $17.84, and adding another 6% in after-hours trading.
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