Publicly traded firm DeFi Development Corp. just bought another 17,760 SOL at an average price of $153.10 per token. The latest $2.72 million acquisition puts the company’s total Solana holdings at 640,585 SOL, valued at about $96.3 million.

After being acquired by former Kraken executives in April, DeFi Development Corp. became the first public company to adopt a treasury strategy focused on accumulating and compounding Solana. 

This story is an excerpt from the Unchained Daily newsletter.

That approach not only involves holding and staking SOL, but also includes operating its own Solana validator infrastructure to generate native yield. The newly acquired SOL will be held long-term and staked across a range of validators.

The move comes after the firm secured a $112.5 million private placement to fund further Solana purchases.