DeFi Development Corp suffered a loss of $83.4 million in the first quarter, with a 108% increase in SOL holdings per share
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According to The Block, Solana Treasury's DeFi Development Corp had a revenue of $2.66 million in the first quarter, a year-on-year increase of 827%, but a net loss of $83.4 million, compared to $778000 in the same period last year, mainly due to the decline in SOL prices. The per share SOL holdings increased by 108%, from 0.0322 to 0.0670. As of May 13th, the company holds approximately 2.2946 million SOLs and their equivalents. CEO Joseph Onoratti stated that the company has achieved growth through strategies such as internal staking and collaborating with Bonk to operate joint verification nodes, and referred to Strategy's strategy as a starting point rather than a ceiling.