Nasdaq-listed DeFi Development Corp (DFDV) has accumulated 999,999 Solana (SOL) in its treasury – one token shy of the million-SOL milestone – after a strategic $19 million buying spree between July 14-20, 2025. The company purchased 141,383 SOL at an average price of $133.53 per token, partially funded through an equity line of credit, boosting its holdings from 857,749 to 999,999 SOL (a 16.6% increase).
DeFi Dev Corp's treasury now holds approximately $181 million in SOL and SOL-equivalent assets, with a significant portion actively staked through the company's own validator infrastructure. This strategy generated 867 SOL ($156,000 at $180/SOL) in staking rewards and validator fees during the acquisition week alone. The firm's SOL-per-share metric surged 13% weekly to 0.0514 SOL ($9.30/share), quantifying direct shareholder exposure.
Following the July 21 disclosure, Solana's price jumped 12% to $202 (25% weekly gain), per Nansen data. CEO Joseph Onorati confirmed exclusive SOL focus for the foreseeable future, citing native yield and volatility as key strategic advantages. The company retains $5 million immediate purchasing power (potentially 24,752+ SOL) and $4.98 billion in credit capacity for further accumulation.
This institutional move has sparked imitation: Bitcoin miner Bit Mining plans a $300 million SOL treasury initiative, while Hong Kong-listed MemeStrategy acquired 2,440 SOL and committed to ecosystem support.