DeFi Development Corp., a Nasdaq-listed company focused on building a Solana-centric treasury, reported on September 14 that its holdings of SOL and SOL equivalents had risen by 55,491 tokens to approximately 2,388,923. The increase represents roughly a 2 percent gain from the level recorded on August 27 and stems from a combination of direct purchases and organic growth generated through staking and related activities.

The company, which describes itself as the first U.S. public firm with a dedicated strategy to accumulate and compound Solana, said the latest addition continues a pattern of steady expansion of its digital-asset reserve. At the current size, the treasury ranks as the second-largest Solana holding among public companies, behind only Forward Industries.

New At-the-Market Facility for Preferred Shares

Alongside the treasury update, DeFi Development Corp. established an at-the-market offering program authorizing the sale of up to $300 million of its Variable Rate Series C Perpetual Preferred Stock, which trades under the ticker CHAD. Shares under the program are intended to be issued at or above the $10.00 par value. R.F. Lafferty & Co., Inc. will serve as the sole sales agent.

The facility provides capacity rather than an immediate capital raise. The company is under no obligation to sell any shares, and actual proceeds will depend on market conditions, investor demand and the firm’s capital requirements over time. Net proceeds are designated primarily for additional SOL purchases.

CHAD carries an initial annual dividend rate of 13 percent. The preferred-stock instrument follows an earlier offering completed on September 8 that generated approximately $11 million in gross proceeds before expenses, substantially all of which the company indicated would be directed toward SOL.

Capital Strategy and Performance Context

Management frames the treasury expansion and the new funding program as components of a broader capital approach: raise funds, acquire SOL, earn yield through staking and validator operations, and increase SOL per share over time. The company operates its own validator infrastructure and participates in decentralized-finance activities on the Solana network in addition to holding the token.

Quarter-to-date figures cited by the firm show Solana outperforming the Nasdaq-100 by 39 percent, while DeFi Development Corp. shares returned twice the performance of SOL itself over the same period. The company also maintains an AI-powered software platform serving multifamily and commercial real-estate professionals, though the core treasury strategy remains centered on Solana accumulation.

The ATM program expands the firm’s ability to access capital markets without committing to a fixed raise size or timeline, giving management flexibility to pace future SOL purchases according to market conditions and internal targets.