Solana Treasury Gains Cushion Upexi's Business Losses

Upexi's treasury soars. | Credit: Credit: T. Del Amo/ClassicStock /Getty Images..

Key Takeaways

Upexi is the third-largest Solana treasury with over 2 million SOL worth $396 million. The firm reported a net loss of $13.7 million for the fiscal period. Upexi’s stock initially rose by over 600% when it announced its SOL treasury in April 2025.

The unrealized gains of a new Solana (SOL) treasury strategy have offset the yearly losses of a business that, up until April 2025, specialized in supply chains.

It’s a success story for the Digital Asset Treasury (DAT) trend, which sees publicly traded firms raise funds through various means to acquire masses of crypto.

Offsetting Losses

In a press release shared with CCN, Upexi has reported a net loss of $13.7 million for the fiscal period between June 2024 and 2025.

But, it’s bold Solana treasury strategy has offset these losses as the firm increased its stash from 735,692 SOL to over 2 million SOL between June 30, 2025, and the Sept. 24 update.

Upexi states that the treasury held a net asset value of $433 million (at $214.76 per SOL).

Having spent roughly $151.44 per SOL, totaling $306 million, Upexi’s treasury carries an unrealized profit of $ 154.56 million.

However, with SOL now trading down at $196.33, this unrealized profit stands at roughly $90.71 million.

Notably, the firm stakes the entirety of its SOL holdings and earns an 8% yield, which is generating roughly $100,000 in daily revenue.

Praising the “winning strategy,” Upexi CEO Allan Marshall expressed delight in its success and in building ” the leading Solana treasury company.”

Shareholder Delight

Marshall also notes the firm remains “laser-focused on creating value for shareholders.”

Since June 2021, the firm’s stock has declined by over 96%.

Upexi, a U.S., Florida-based firm that primarily specializes in consumer retail supply chains, announced its Solana strategy big in April 2025, which sent the firm’s stock skyrocketing from just $2.30 to $15.51.

Upexi stock jumps. | Source: Google Finance.

However, this increase was momentary, and a typical knee-jerk response from investors following one of many DAT announcements this year.

It was once the leading Solana Treasury; however, in the past 30 days, aggressive purchases from competing firms have shifted it into third place.

As per CoinGecko data, Forward Industries is the new leader, having acquired 6,822,000 SOL in the past 30 days. It now commands a treasury worth over $1.33 billion.

In second is DeFi Development Corp., which upped its stash by 666,133 SOL to over 2.09 million SOL, currently valued at $411.225 milion.

Upexi increased its holdings by 17,901 SOL in the past 30 days, and holds 2,018,419 worth $396.05 million.

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