TLDR
- DFDV stock jumps after the $77M Solana buy, and SPS outpaces the share price.
- $77M Solana purchase lifts DFDV shares, boosting Solana-per-share.
- DFDV expands Solana treasury, and stock surges with SPS above the market.
- Solana bet pays: DFDV gains 7.9%, SPS signals undervaluation.
- DFDV marries real estate SaaS with Solana, fueling growth outlook.
DeFi Development Corp.( DFDV) shares surged on Thursday, closing at $16.47, marking a sharp 7.93% increase from the previous session. The stock continued its upward trajectory in after-hours trading, gaining another 0.79% to reach $16.60.
This momentum followed the company’s announcement of a substantial Solana (SOL) acquisition, cementing its position as a Solana-focused public entity.
$77M Solana Purchase Boosts Market Confidence
DFDV acquired 407,247 SOL at an average price of $188.98 per token, totaling approximately $77 million. The purchase, funded through a recent equity raise, increased the firm’s total SOL holdings by 29% from 1,420,173 to 1,831,011 tokens. This transaction elevated DFDV’s digital asset portfolio to an estimated value of $371 million.
1/ Another major step forward: we’ve grown our treasury by 407,247 $SOL, bringing total holdings to 1,831,011 SOL (~$371M).
At an average purchase price of $188.98, our SOL holdings have increased by +29% since our last purchase announced on August 15, 2025.
— DeFi Dev Corp. (DFDV) (@defidevcorp) August 28, 2025
The newly acquired SOL will be held long-term and staked across various validators, including DFDV’s own Solana infrastructure. This move aims to generate native staking yields and enhance participation in the Solana ecosystem. It also reflects the firm’s broader strategy to combine capital markets access with decentralized finance infrastructure.
DFDV emphasized that over $40 million in net proceeds from the raise remain available for future SOL purchases. This funding capacity allows room for further expansion of its crypto treasury. Management expects this strategy to support continued growth in the company’s Solana-per-share (SPS) metric.
Key Per-Share Metrics Strengthen Strategic Outlook
DFDV reported approximately 21 million shares outstanding, resulting in an SPS of 0.0864. This figure, based on the current SOL balance, translates to $17.52 per share when using the SOL market price. Notably, this is higher than DFDV’s closing price, hinting at potential room for stock price adjustment.
The company noted that the 21 million share count does not include shares and warrants from the recent financing. On a fully diluted basis, the share count would rise to around 31 million, but management projects that SPS would still remain above 0.0675. The company expects this threshold to hold, even after full warrant impact and further SOL accumulation.
This disciplined treasury approach positions DFDV to benefit from both appreciation and yield in the Solana network. The firm’s alignment of digital asset strategy with shareholder value has been a key component of its recent market performance. Continued transparency in SPS reporting reinforces confidence in the firm’s operational roadmap.
Dual Business Model Enhances Value Proposition
While DFDV leads in digital asset treasury management, it also operates a technology platform serving the commercial real estate sector. The company provides SaaS solutions, data, and services to over one million annual web users.
DFDV’s commercial real estate platform connects stakeholders with data-driven tools and value-added services. Its client base includes over 10% of U.S. banks and multiple government-backed lending institutions. This segment complements its crypto strategy by generating stable recurring revenue.
By combining its real estate software business with a crypto-centric treasury model, DFDV offers a unique hybrid exposure. The company continues to explore new ways to integrate decentralized finance with traditional asset classes. This dual approach strengthens its competitive position and supports long-term shareholder returns.
