- Upexi (UPXI, Financial) increases its SOL holdings to 1.819 million, valued at $331 million.
- The company achieved a $58 million unrealized gain from SOL appreciation in under three months.
- Upexi projects $26 million in annual staking revenue at an 8% yield.
Upexi Inc. (UPXI), a brand owner with interests in the cryptocurrency realm, has successfully expanded its Solana (SOL) holdings to 1.819 million tokens, now valued at $331 million. This substantial growth is primarily driven by a recent acquisition of 100,000 SOL for $17.7 million, enhancing the company's position in the digital asset space.
In less than three months, Upexi has realized an impressive $58 million in unrealized gains owing to SOL's price appreciation and advantageous locked SOL discounts. Since June, the company's treasury has surged by 147%, supported by a $200 million equity and convertible notes private placement.
Upexi's strategic maneuvering includes actively staking its SOL assets, with a projected annual staking revenue of approximately $26 million, given an 8% yield. This approach not only offsets operational costs but also generates a sustainable income stream without necessitating the liquidation of underlying assets.
Financially, Upexi's market cap stands at $402 million, representing a 1.2x ratio to its SOL holdings (Basic mNAV), while the Fully-Loaded mNAV, accounting for warrant conversions and convertible notes, is at 2.1x, highlighting the company's robust financial positioning in the cryptocurrency sector.
