DeFi Developmen currently holds 1.3 million SOL, with a total value of nearly $250 million

According to a report by Jinse Finance, DeFi Development Corp (DDC) released a shareholder letter on Tuesday, revealing that the company currently holds over 1.3 million SOL tokens, with a total value approaching $250 million. The report shows that the company increased its holdings by 4,500 SOL in just the first two weeks of August. DDC’s second-quarter financial data indicates quarterly revenue of $1.98 million, a year-on-year increase of 395%; net profit reached $15.4 million, compared to a loss of $800,000 in the same period last year. The company expects its validator and staking business to achieve an annualized yield of 10%, which, based on its current holdings, would generate approximately $63,000 in SOL-denominated income per day.