Crypto Forum
Crypto Currency => Solana => Topic started by: Administrator on May 14, 2026, 06:15:37 AM
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Solana treasury firm DeFi Development Corp. (DFDV) reported a 108% increase in SOL per share in the past year, despite posting wider losses in the first quarter.
According to its latest announcement, the company's SOL per share rose to 0.0670 as of May 13, from 0.0322 a year ago. The company held 2,294,576 SOL (SOL) and SOL equivalents as of Wednesday.
DeFi Development attributed the SOL per share growth to several "unconventional" strategies that differ from other digital asset treasury firms, namely Strategy. These include internally staking through a validator business it acquired in May 2025, partnering with Bonk for a joint validator node, and deploying more than 25% of its treasury onchain.
"We have always believed the MSTR playbook is a starting point, not a ceiling, and that DFDV can ultimately become something meaningfully different. SOL is a different asset than BTC," said CEO Joseph Onorati. "Solana's ecosystem offers tools unavailable to a bitcoin treasury company: native onchain yield, composable DeFi protocols, and an active developer community building new financial primitives every week."
The firm also highlighted that in the past six weeks, it has repurchased about $4.4 million principal of July 2030 convertible notes for $2.6 million in cash. This indicated that the company retired the debt at a 41% discount to par.
Bear market-driven losses
Meanwhile, the company's unaudited financial statement shows a total revenue of $2.66 million in the first quarter, marking a 827% growth compared to $287,000 in Q1 2025. Digital asset treasury revenue contributed $2.4 million in the first quarter.
However, DeFi Development reported a net loss of $83.4 million, compared to a net loss of $778,000 in the same period last year. This reflects significant declines in its non-cash digital asset holdings. Solana's price fell 48% in the past year, currently trading at $91.
"As of May 13, 2026, we are reaffirming our June 2026 guidance of 0.075 SOL per share," the company said. "Our longer-term 1.0 SPS target by December 2028 remains unchanged."
DeFi Development's Nasdaq-listed DFDV fell 3.13% on Wednesday, closing at $4.65. In the past year, the stock has fallen 64%.
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