DeFi Dev Corp. Grows SOL Treasury to 999,999, Raises $19 Million from Equity Line of Credit

Core Insights - DeFi Development Corp. has achieved a significant milestone by accumulating 999,999 SOL and SOL equivalents on its balance sheet, marking a strategic treasury approach focused on Solana [1][10] - The company recently purchased 141,383 SOL at an average price of $133.53, totaling approximately $19 million, which includes both spot purchases and discounted locked SOL [2][10] - The newly acquired SOL will be staked long-term to generate yield through various validators, including the company's own [3] Treasury Strategy - DeFi Development Corp. has adopted a treasury policy that primarily allocates its reserves to SOL, providing investors with direct exposure to the asset while participating in the Solana ecosystem's growth [7] - The company has raised approximately $19.2 million through its Equity Line of Credit (ELOC), issuing 740,000 shares, with about $5 million remaining for future SOL purchases [4] Staking and Revenue Generation - As of July 20, 2025, nearly all unlocked SOL was staked to the company's validator infrastructure, generating native yield and additional revenue from third-party delegated stakes [5] - Between July 14 and July 20, the company earned approximately 867 SOL from staking, validator, and on-chain rewards [5][10] Financial Metrics - The total value of SOL and SOL equivalents held by the company is approximately $181 million, with a significant increase in total holdings from 857,749 to 999,999 SOL [10] - The company's shares outstanding as of July 18, 2025, are 19,445,837, with a SOL per share (SPS) of 0.0514, reflecting a 13% week-over-week increase [10]