DeFi Development Corp., the Nasdaq-listed company trading under ticker DFDV, disclosed that it acquired approximately 26,203 Solana tokens between September 28 and October 2. The purchase raised its total holdings of SOL and SOL equivalents to roughly 2,564,212 tokens, valued by the company at $302 million.

The latest addition represents about a 1 percent increase from the 2,538,010 tokens reported as of September 25. Overall treasury growth stands at approximately 11 percent since the firm’s August 12 earnings update. The company operates its own validators and directs staking rewards and commissions toward expanding its Solana position.

Preliminary Third-Quarter Metrics Show Sharp Per-Share Gains

In an 8-K filing, DeFi Development released preliminary estimates covering the period ending September 30 compared with August 12. The figures indicate double-digit growth in SOL per share, more than 100 percent growth in net asset value per share, and double-digit growth in total SOL and SOL equivalents. Cash and cash equivalents more than doubled over the same interval, while notional SOL-denominated borrowings declined.

The company cautioned that the numbers remain preliminary and subject to finalization. Management attributed the advances to continued treasury expansion and balance-sheet strengthening over roughly seven weeks.

Preferred Stock Program and Dividend Payment

DeFi Development paid the first dividend on its CHAD preferred stock on October 1. The shares carry a 13 percent annual rate, or $1.30 per share based on the $10 stated amount. The firm established a $300 million at-the-market program for the preferred stock in September, with proceeds primarily intended for additional SOL purchases.

Earlier in September the company completed an initial offering of CHAD shares that raised approximately $11 million. The preferred structure is designed to supply capital for Solana accumulation without diluting common shareholders. The company has described its overall approach as a capital flywheel that raises funds, acquires SOL, generates yield through staking, and increases SOL per share over time.

Acquisition Pace Moderates

Recent weekly additions have slowed relative to prior periods. The firm added 47,706 SOL in the week ending September 25 and 101,381 SOL in the week ending September 18. The latest increment of roughly 26,203 tokens is about half the prior week’s total and roughly one-quarter of the mid-September figure.

DeFi Development positions itself as a digital-asset treasury company focused on Solana, offering investors exposure to the token through a traditional brokerage account. The firm, formerly known as Janover, shifted to its current strategy in 2025. At that time it held nearly 600,000 SOL; current holdings exceed four times that amount. It ranks among the largest corporate holders of Solana worldwide.

The company has stated that its model seeks to deliver magnified exposure to SOL price movements. In the third quarter, SOL outperformed the Nasdaq-100 by 56 percent, while DFDV shares outperformed SOL by a factor of 1.5 times over the same span, according to the firm’s disclosures.