Upexi Inc. (NASDAQ:UPXI) reported its Solana (CRYPTO: SOL/USD) treasury reached $447 million as of Sept. 10, with unrealized gains totaling $142 million. The Tampa-based consumer products and cryptocurrency company credited the strong performance to a recent surge in Solana prices.
Chief Executive Officer Allan Marshall said the company strengthened visibility by welcoming digital asset veteran Arthur Hayes to its Advisory Committee and connecting with investors at finance conferences.
Brian Rudick, Chief Strategy Officer, said Upexi closed three capital raises that were "materially in the money" and lifted adjusted Solana per share by 129% since starting the strategy. He emphasized that staking, discounted token purchases, and capital issuance created multiple avenues for shareholder value.
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The company held 2,018,419 Solana tokens, up from 2,000,518 in early August. At a price of $221.59 per token, the holdings were valued at $447 million. Nearly all tokens are staked, generating roughly $105,000 per day at an 8% yield. About 53% of the tokens were acquired at a discount, adding further gains.
End of August, Upexi announced a $750,000 investment in Cybersyn Holdings, the owner of the upcoming Alpha Exchange trading platform.
The deal gives Upexi a 14.9% royalty on the exchange's future revenue, with options to increase that stake or convert part of it into equity once user milestones are met.
Marshall said the move aligns with Upexi's focus on innovative growth opportunities.
Alpha Exchange, slated to launch later in 2025, will offer AI-powered analytics, real-time insights and institutional-grade security, initially focusing on tokens within the Solana and Base networks.
Solana's strength has intensified investor interest. The token recently outperformed Bitcoin and Ethereum after new DeFi activity drove tens of millions into reserves, reinforcing momentum for companies with significant Solana exposure.
Price Action: UPXI shares are trading higher by 13.38% to $6.44 premarket at last check Friday.
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