DeFi Development reported a net loss of $83.4 million in the first quarter, but its holdings of each SOL share increased by 108% over the past year.

CoinFeed reported on May 14th that, according to The Block, Solana treasury company DeFi Development Corp reported a 108% increase in SOL holdings over the past year, from 0.0322 to 0.0670, despite widening losses in the first quarter. As of May 13th, the company held approximately 2.2946 million SOL and its equivalent. CEO Joseph Onorati stated that the company achieved growth through strategies such as internal staking, operating joint validator nodes in partnership with Bonk, and deploying over 25% of its treasury on-chain, believing that Strategy's strategy is a starting point, not a ceiling. The company's first-quarter revenue was $2.66 million, an 827% year-over-year increase, but its net loss was $83.4 million, compared to $778,000 in the same period last year, primarily due to the decline in SOL prices.