DeFi Development Corp. Doubles NAV Per Share with 2.56M SOL Treasury

DeFi Development Corp. has reported significant growth in its Solana holdings, with a treasury reaching 2.56 million SOL and equivalents, valued at $302 million as of September 30, 2026. The company’s net asset value (NAV) per share more than doubled between August 12 and September 30, 2026, driven by an 11% increase in its Solana reserves since mid-August. The company also paid its first dividend on Nasdaq-listed CHAD preferred shares on October 1, 2026, with an annual rate of 13%.

In its preliminary Q3 2026 estimates released on October 5, DeFi Development Corp. revealed that it had accumulated an additional 26,203 SOL tokens since September 28. The total holdings on the Solana network now stand at approximately 2.56 million units, reflecting an 11% increase from the August 12, 2026, balance sheet. The company’s CEO, Joseph Onorati, emphasized the goal of increasing the amount of SOL backing each common share, though final figures remain subject to accounting consolidation.

To fund these acquisitions, DeFi Development Corp. launched an at-the-market (ATM) offering program of up to $300 million in September 2026, issuing variable-rate perpetual preferred shares under the ticker CHAD. The initial placement involved an $11 million offering, structured to provide liquidity without diluting common shareholders. The CHAD shares carry a 13% annual dividend, with the first payout completed on October 1, 2026.

Despite a 2% gain in early trading on October 5, DeFi Development Corp.’s common shares remain down nearly 70% over the trailing twelve-month period. The company plans to release its audited financial statements for Q3 2026 in the coming weeks, which will confirm the final SOL holding figures and net debt balances.