DeFi Development Expands Solana Treasury to 2.39M SOL

DeFi Development Corp, a Nasdaq-listed company, has expanded its Solana (CRYPTO: $SOL) treasury by 55,491 SOL, raising its total holdings to approximately 2.39 million SOL and SOL equivalents. The company reported a 2% increase in its treasury since August 27, as it resumed regular SOL purchases and continued generating yield from its holdings.

DeFi Development Corp now ranks as the second-largest public-company holder of Solana, following Forward Industries. The company introduced a $300 million at-the-market offering for its CHAD perpetual preferred stock, which offers an initial annual dividend rate of 13%. The preferred stock will be issued at or above its $10 par value, with most of the proceeds likely to fund further SOL purchases.