DeFi Development Corp., a real estate software company that has shifted to building an investment fund focused on Solana, has just purchased an additional 82,404.5 SOL worth approximately 11.2 million USD, according to the announcement.
The transaction occurred after the company announced a 24 million USD PIPE investment 5 days earlier, committing to continue purchasing more SOL.
As of May 6, DeFi Development Corp. holds a total of 400,091 SOL (including staking rewards), valued at approximately 58.5 million USD. With 2,001,887 shares outstanding, each share corresponds to 0.199 SOL, valued at around 29.24 USD.
The company stated that part of the SOL was purchased through BitGo's OTC trading desk from institutions with time-locked schedules. These tokens will be held long-term and staked to generate yield.
DeFi Development Corp rebranded and shifted to the crypto sector after former Kraken leaders acquired a majority stake on April 22.
In addition to expanding its SOL asset portfolio, the company has also agreed to acquire a Solana validator operation unit (name undisclosed) for 3.5 million USD to self-stake its held SOL.
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The article DeFi Development Corp purchases additional 11.2 million USD Solana first appeared on CoinMoi.
