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Upexi, a financial company on Solana: The rise is primarily attributed to Solana reserves bringing approximately $78 million in unrealized gains.
[Solana financial company Upexi: rise mainly due to approximately $78 million in unrealized gains from Solana reserves] According to The Block, the Nasdaq-listed Solana financial company Upexi announced a “record” quarterly financial report, with digital asset revenue exceeding $6 million and gross profit of $8.3 million, a year-on-year increase of 183%. Its total revenue for the first fiscal quarter was $9.2 million, compared to $4.4 million in the same period last year, with digital asset revenue (mainly from stake income) of $6.1 million. As of the quarter ending September 30, 2024, the company's net profit was $66.7 million, or $1.21 per share, compared to a net loss of $1.6 million in the same period last year, or $1.55 per share, with the rise mainly attributed to approximately $78 million in unrealized gains from Solana reserves. In addition, after the acquisition update last week, Upexi's total holdings of Solana exceeded 2.1 million coins, making it the second largest holder of Solana reserves, next to DeFi Development Corp.