Solana treasury Upexi posts record quarter powered by $78 million in unrealized SOL gains
Upexi reported a record fiscal first quarter, driven by $78 million in unrealized gains from its Solana treasury holdings.Summary
Upexi, the Solana-focused digital asset treasury firm, announced a record fiscal first quarter with total revenue of $9.2 million, up from $4.4 million year-over-year, and gross profit of $8.3 million. The significant net income of $66.7 million was primarily attributed to approximately $78 million in unrealized gains on its Solana treasury holdings. CEO Allan Marshall noted that their Solana holdings are now a productive, revenue-generating asset through staking yield. Upexi recently increased its SOL holdings to over 2.1 million and is the second-largest SOL treasury after DeFi Development Corp. The company also secured a $200 million private placement and a $500 million equity line to fund further SOL accumulation. Despite the strong quarter, UPXI shares were down about 15% year-to-date at the time of the report.
(Source：The Block)