Solana Whale DeFi Development Unleashes Massive $100M Stock Buyback – More SOL Buys? | Invesloan.com

DeFi Development Corp, the first publicly listed company structured around a Solana-based treasury strategy, has expanded its share repurchase program to $100 million, marking one of the largest stock buyback initiatives in the digital asset sector.

The company announced on Wednesday that its Board of Directors had approved an increase to the authorization from its initial $1 million, allowing management to buy back common stock on the open market under Rule 10b-18 of the Securities Exchange Act of 1934.

The authorization provides flexibility to repurchase up to $100 million, with an initial $10 million threshold requiring management to notify the board before proceeding with further purchases.

Repurchased shares will either be retired and returned to authorized but unissued status or held as treasury stock.

DeFi Development Balances Buybacks and Solana Accumulation in Bold Dual Strategy

According to the filing, the timing, method, and amount of repurchases will be determined by management based on market conditions and regulatory requirements.

The company emphasized that the program does not obligate it to repurchase any specific number of shares and may be modified, suspended, or discontinued at any time.

The move comes amid a year of ambitious developments for DeFi Development Corp, which has sought to position itself as Solana’s equivalent of Strategy’s Bitcoin strategy.

In recent months, the company has steadily accumulated Solana for its treasury. On September 17, it disclosed the purchase of 62,745 SOL, bringing its total holdings to 2,095,748 SOL, worth roughly $499 million at the time.

That position translates to 0.0816 SOL per share, or about $19.44 in value per share, based on its reported metrics. The tokens are staked across multiple validators, including the firm’s own, to generate yield.

The stock buyback also follows regulatory setbacks earlier this year.

In June, the company withdrew a $1 billion registration filing with the U.S. Securities and Exchange Commission after the regulator deemed it ineligible to use the streamlined S-3 form, citing a missing management report on internal controls in its most recent Form 10-K.

The firm stated that no securities were sold under the withdrawn filing and that it intends to refile once compliance issues are resolved.

Despite the withdrawal, the company pressed forward with capital-raising initiatives.

In July, DeFi Development announced plans to raise $100 million through a private offering of convertible senior notes due in 2030, with an option for an additional $25 million.

Proceeds were earmarked partly for stock repurchases through a prepaid forward agreement and for further Solana accumulation.

More recently, the firm has expanded internationally. On September 22, it signed a letter of intent to establish DeFi Development Corp. Korea, a Solana Digital Asset Treasury (DAT), in partnership with Fragmetric.

A week earlier, it revealed plans to deploy between $5 million and $75 million per vehicle into global DATs through its Treasury Accelerator program, with returns reinvested into SOL to expand its treasury holdings.

DeFi Development Corp. has raised $42 million since April to fund its Solana-focused strategy.

With its stock buyback authorization now expanded to $100 million, the company has reinforced its dual approach of building shareholder value while positioning itself as a leading institutional holder of Solana.

Fitell, Brera, Forward Drive Solana Treasury Holdings to 13.4M SOL

Institutional adoption of Solana continues to accelerate. Treasury companies now collectively hold 13.44 million SOL ($2.86 billion), according to CoinGecko data.

Just today, Australian fitness firm Fitell Corporation said it has secured a $100 million credit line to launch a Solana-focused treasury strategy, marking a pivot that includes rebranding as Solana Australia Corporation.

The company will become the first Nasdaq-listed institution in the country to hold Solana, with plans to generate returns through staking, DeFi participation, and structured products designed with downside protection.

Brera Holdings recently closed an oversubscribed $300 million PIPE led by UAE investors and Ark Invest to purchase Solana for its reserves.

Meanwhile, Forward Industries, the largest Solana treasury holder, has accumulated over 6.8 million SOL and plans to tokenize its stock on-chain through Superstate’s Opening Bell platform.

The initiative will allow FORD shares to trade 24/7 with instant settlement and global liquidity, while also serving as collateral across Solana-based lending protocols.

Forward recently filed for a $4 billion at-the-market equity program to scale its strategy further.

Other firms, including Helius Medical Technologies, BIT Mining, and Upexi Inc., are also building Solana treasuries, reinforcing the network’s position as a growing hub for institutional capital.

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