DeFi Development Corp Grows Solana Treasury to 2.39 Million SOL, Launches $300 Million CHAD ATM

Nasdaq listed DeFi Development Corp has increased its Solana holdings to nearly 2.39 million SOL and SOL equivalents, adding 55,491 tokens since late August. The company says this marks roughly a 2% rise in holdings over just a few weeks as it keeps buying SOL and earning yield from its existing stake.

New $300 Million Funding Program

Alongside the treasury update, the firm has opened a $300 million at the market offering tied to its CHAD perpetual preferred stock. Shares will be sold at or above their $10 par value, with most of the proceeds directed toward additional SOL purchases. CHAD carries a 13% initial annual dividend rate as a Variable Rate Series C preferred stock.

Company Leadership Weighs In

CEO Joseph Onorati said the firm is expanding its treasury while returning capital at twice the pace of its SOL growth this quarter. He added that the new ATM gives the company room to scale CHAD as a fresh growth channel, with plans to issue at or above the $10 par value.

Second-Largest Solana Treasury

DeFi Development Corp now holds the second largest corporate Solana treasury, trailing only Forward Industries. The company recently resumed regular token purchases and launched a data platform tracking Solana network activity, including staking and validator metrics.