DeFi Development Corp. grows SOL per share 108%

DeFi Development Corp. grew SOL per share 108% year-over-year to 0.0670, holding 2.3M SOL. Despite Q1 losses from Solana’s price drop, revenue beat estimates. Unique staking and onchain strategies drove growth.

DeFi Development Corp. reported a 108% year-over-year increase in SOL per share, reaching 0.0670 as of May 13, 2026, up from 0.0322 a year earlier. The company now holds approximately 2.3 million SOL and SOL equivalents, marking a 3% increase from the previous quarter. Despite wider losses in Q1 2026—largely due to unrealized losses from Solana's price dropping over 30% during the quarter—DeFi Development exceeded revenue expectations, posting $4.49 million. The company's growth was fueled by unconventional strategies, including internal staking via its own validator business, a partnership with Bonk for a joint validator node, and deploying over 25% of its treasury onchain. Additionally, DeFi Development repurchased $4.4 million in convertible notes at a 41% discount. The company reaffirmed its SPS targets for June and its long-term goal of 1 SPS by December 2028, highlighting its distinct approach compared to traditional digital asset treasury firms.