Solana Treasury Company Upexi Shares Drop 8% as Third-Quarter Net Loss Widens to $109 Million

Odaily reported that shares of Solana’s treasury company Upexi fell 8.16% on Tuesday, after the company reported its third-quarter net loss had widened to $109 million, primarily due to a decline in the value of its cryptocurrency holdings. According to a Tuesday filing, the company recorded an unrealized loss of $92.3 million on its digital assets. Despite a 46% year-over-year increase in total revenue to $4.6 million, driven by income from cryptocurrency staking, losses still occurred.

Upexi’s results show that as of March 31, the company held 2.5 million Solana tokens, valued at over $238 million, making it the second-largest corporate treasury holder after Forward Industries, which holds over 7 million Solana tokens (data from CoinGecko).