DeFi Development Says Solana Per Share Rose 108% Over the Past Year

DeFi Development, a Solana-focused treasury company, said its Solana holdings per share rose 108% over the past year.

The Block reported on May 14 that the company’s SOL per share increased to 0.0670 from 0.0322 a year earlier.

The company said it now holds a total of 2,294,576 SOL and Solana-linked assets.

DeFi Development said the increase was driven by its in-house validator operations and its strategy of deploying assets into on-chain decentralized finance, or DeFi. The company has been conducting its own staking through a validator business it acquired in May 2025. It also operates a joint validator node with meme-coin project BONK.

More than 25% of its total treasury assets are deployed in on-chain DeFi protocols, it said.

“Strategy’s model is only a starting point, not a limit,” Chief Executive Officer Joseph Onorati said. “Solana is a different asset from Bitcoin, and the Solana ecosystem offers tools that Bitcoin treasury companies cannot use, including on-chain yield, DeFi composability and an active developer ecosystem.”

Its earnings, however, were weak. DeFi Development said first-quarter revenue rose 827% from a year earlier to $2.66 million, but it posted a net loss of $83.4 million.

Market participants have pointed to Solana’s roughly 48% decline over the past year as a factor behind wider mark-to-market losses on digital assets.

DeFi Development also said it is maintaining its target of reaching 1 SOL per share by the end of 2028.