Upexi Surpasses 2 Million SOL in its Treasury

Core Insights - Upexi, Inc. experienced significant growth in July 2025, raising over $200 million and increasing its Solana holdings by 172% to 2 million SOL, which is valued at approximately $334 million as of August 4, 2025 [2][5]. Treasury Update - As of August 4, 2025, Upexi holds 2,000,518 SOL, up from 735,692 SOL at the end of June 2025, representing a 172% increase [5]. - The net asset value of the SOL holdings is approximately $334 million, calculated using the SOL price of $167.26 [5]. - Upexi has approximately 0.0339 SOL per common share, equating to $5.68 per common share [5]. - The company is earning an estimated 8% staking yield, generating around $65,000 daily in revenue [5]. Business Initiatives - Upexi made multiple purchases of Solana during July, including 100,000 SOL on July 21 and 83,000 SOL on July 23 [5]. - The company’s treasury strategy includes a significant portion of locked SOL, approximately 57% of the portfolio, purchased at a discount to the spot price [5]. Market Performance - Solana recorded strong growth metrics in July 2025, with daily active addresses increasing by 144% year-over-year to 4.4 million and daily transactions rising by 62% to $3.4 billion [6]. - The total value locked (TVL) in Solana reached $8.7 billion, marking a 98% increase year-over-year [6]. Valuation Metrics - Upexi's stock traded at a Basic mNAV of 0.9x and a Fully-Loaded mNAV of 1.6x as of August 4, 2025 [5][8]. - The adjusted market cap, considering potential conversions of convertible notes, is approximately $472.8 million [9].