SOL reserve strategy company Upexi announces "record-breaking" quarterly performance, with staking earnings reaching $6.1 million.

BlockBeats News, November 12 — Solana-based digital asset reserve and consumer goods brand company Upexi announced “record-breaking” quarterly performance, with digital asset revenue surpassing $6 million, driving total gross profit to $8.3 million, a 183% year-over-year increase. The Nasdaq-listed company’s financial report shows total revenue of $9.2 million in the first quarter (compared to $4.4 million in the same period last year), with digital asset income primarily from staking yields contributing $6.1 million. The company also completed a private placement of $200 million in common stock and convertible bonds this quarter and signed a $500 million equity financing agreement with A.G.P. to accelerate the strategic expansion of Solana asset reserves. Net profit for the quarter reached $66.7 million ($1.21 per share), reversing a net loss of $1.6 million ($1.55 loss per share) in the quarter ending September 30, 2024. The profit growth was mainly attributed to unrealized gains of approximately $78 million from Solana assets. After the latest increase last week, Upexi’s total holdings now exceed 2.1 million SOL.