DeFi Development reported a net loss of 83.4 million dollars in Q1, with per SOL holdings increasing by 108% year-on-year.

Odaily reported that Solana treasury company DeFi Development Corp stated that despite a widening loss in the first quarter, the number of SOL held per share over the past year increased from 0.0322 to 0.0670, a growth of 108%. As of May 13, the company held approximately 2.2946 million SOL and equivalents. CEO Joseph Onorati said that the company achieved growth through internal staking, operating joint validation nodes in cooperation with Bonk, and deploying more than 25% of its treasury on-chain, among other strategies. He also believes that Strategy's approach is a starting point, not the ceiling. The company reported first-quarter revenue of $2.66 million, an increase of 827% year-on-year; its net loss was $83.4 million, compared to $778,000 in the same period last year, mainly due to the decline in the price of SOL.