Solana financial company Upexi's quarterly performance hits a record high, thanks to $78 million in unrealized SOL gains.

PANews November 12 – According to The Block, Solana financial company Upexi, listed on NASDAQ, announced a “record-breaking” quarterly earnings report, with digital asset revenue exceeding $6 million and gross profit of $8.3 million, representing a 183% year-over-year increase. Its first fiscal quarter total revenue was $9.2 million, compared to $4.4 million in the same period last year, with digital asset revenue (mainly staking income) of $6.1 million. As of the quarter ending September 30, 2024, the company reported a net profit of $66.7 million, or $1.21 per share, compared to a net loss of $1.6 million, or $1.55 per share, in the same period last year. The growth was mainly attributed to unrealized gains of approximately $78 million from Solana reserves. Additionally, after Upexi’s recent purchase last week, its total Solana holdings exceeded 2.1 million tokens, making it the second-largest Solana reserve holder after DeFi Development Corp.