Nasdaq-Lister Firm Bets Bigger on Solana with Largest Purchase Yet

DeFi Development Corp, a publicly traded firm formerly operating under the name Janover, has made its largest Solana investment to date as it doubles down on its blockchain-focused treasury strategy.

In a move reminiscent of MicroStrategy’s aggressive Bitcoin accumulation, the company announced it has acquired an additional 172,670 SOL tokens, spending approximately $23.6 million at an average price of $136.81 per coin. This latest buy pushes its total Solana stash to nearly 596,000 SOL, now valued at over $102 million.

This marks the tenth Solana acquisition by the firm since it pivoted toward digital assets. The newly acquired tokens, like those before them, will not be sold in the short term.

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Instead, the company plans to deploy them into validator nodes—including those it operates itself—to earn staking rewards and support the network’s decentralization.

“We intend to continue building our position,” a company statement noted, reaffirming its long-term outlook on Solana.

DeFi Development Corp underwent a significant transformation in April following a takeover by former Kraken executives. The rebrand from Janover signaled a clear shift in focus toward Web3 infrastructure, with Solana now at the heart of the company’s revised mission.

Alexander Stefanov