DeFi Development Corp. resumed buying Solana (SOL) on August 27, purchasing around 19,000 SOL at an average price of $98.14 per token. The transaction was worth approximately $1.86 million and marks the company’s latest move to expand its growing Solana treasury.
Following the purchase, DeFi Development’s total holdings increased to roughly 2.33 million SOL and SOL-related assets, up from about 2.31 million reported earlier this month.
The company said it plans to keep the newly acquired tokens as a long-term treasury asset and deploy them through its staking and on-chain infrastructure. This could generate additional revenue through staking rewards, although those returns can vary depending on network conditions and validator performance.
Part of the funding for the purchase came from proceeds related to the company’s ZeroStack divestment. However, DeFi Development did not reveal how much money the sale generated or how much of the SOL acquisition it financed.
The purchase is part of a broader strategy that has seen the company steadily build its Solana position. DeFi Development already holds one of the largest corporate SOL treasuries and continues to view Solana as a key long-term asset.
Investors reacted positively to the announcement, with DFDV shares moving higher after the news. The company says its stock is designed to provide investors with leveraged exposure to Solana, meaning gains in SOL could potentially have a larger impact on the share price. However, the opposite is also true if Solana’s price falls.
Looking ahead, DeFi Development plans to integrate the newly purchased SOL into its staking operations while continuing to monitor market conditions for future acquisitions. The company has not announced when its next SOL purchase might take place or how much it plans to invest going forward.
