DeFi Development Corp Shares Jump 17% Following $2.7M Solana Purchase

• DeFi Development Corp stock jumped 17% after buying $2.7 million worth of Solana tokens and now holds 640,585 SOL worth $98 million.

• The company plans to raise $112.5 million through private placements, but previous SEC filing issues forced them to withdraw a $1 billion fundraising attempt.

• Shares have gained 2,733% year-to-date but remain 33% below their May peak, while the company reported declining revenue and profit margins.

DeFi Development Corp experienced a significant stock surge on Thursday, climbing 17% to $23.80 after announcing the acquisition of $2.7 million of Solana tokens. The purchase represents the company’s continued commitment to its cryptocurrency treasury strategy.

The blockchain-focused firm acquired 17,760 SOL tokens at an average price of $153.10 per coin. This latest purchase brings the company’s total Solana holdings to 640,585 tokens, valued at approximately $98 million at current market prices.

DeFi Development Corp stated it plans to hold these newly acquired tokens long-term. The company also announced intentions to stake the tokens to generate additional yield from cryptocurrency investments.

Stock Performance Shows Strong Momentum

The Thursday gains followed a previous day’s rally triggered by the company’s June business update. DeFi Development Corp shares extended their gains in after-hours trading, rising an additional 0.8% to $24.

The stock has demonstrated remarkable volatility over recent months. Compared to Wednesday’s low of $18.47, shares have increased 30% in just two trading sessions. Year-to-date performance shows an impressive 2,733% gain, though the stock remains 33% below its May 21 peak of $35.53.

The company’s recent financial performance presents a mixed picture. Net revenue declined 30% year-over-year during the March quarter, while net profit margins contracted by 15.5%.

Capital Raising Strategy and Regulatory Challenges

DeFi Development Corp announced plans to raise $112.5 million through private placements on Wednesday. The offering will close on Monday, with proceeds allocated for strategic purposes.

The company will direct $75.6 million from the net proceeds toward a prepaid forward stock purchase transaction. Remaining funds will support general corporate purposes, including additional SOL token acquisitions for treasury management.

The firm’s fundraising efforts have faced regulatory hurdles. DeFi Development Corp announced ambitious plans to raise $1 billion for Solana investments in April. However, the Securities and Exchange Commission forced the company to withdraw its filing in June due to missing management report submissions.

In a July 2 shareholder letter, company leadership emphasized maintaining capital flexibility while protecting investors from short-term liquidation risks. Management described the balance sheet as structured to withstand prolonged market downturns and support long-term net asset value per share durability.

The company’s strategic focus on Solana reflects broader institutional interest in alternative cryptocurrencies beyond Bitcoin. DeFi Development Corp’s approach combines direct token purchases with staking mechanisms to generate passive income from its digital asset holdings.