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DeFi Development first quarter net loss of $83.4 million, SOL holdings per share increased by 108% over the year
Mars Finance News, Solana Treasury Company DeFi Development Corp reports that despite increased losses in the first quarter, the amount of SOL held per share over the past year increased from 0.0322 to 0.0670, a 108% growth. As of May 13, the company held approximately 2.2946 million SOL and equivalents. CEO Joseph Onorati stated that the company achieved growth through strategies such as internal staking, operating joint validation nodes in partnership with Bonk, and deploying over 25% of the treasury on-chain, and believes that Strategy is a starting point rather than a ceiling. The company’s first-quarter revenue was $2.66 million, a year-over-year increase of 827%; net loss was $83.4 million, compared to $778k in the same period last year, mainly due to the decline in SOL prices.