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SOL Reserve Strategy Company Upexi Reveals "Record-Breaking" Quarterly Performance, Staking Rewards Reach $6.1 Million
BlockBeats News, November 12, Upexi, a Solana-based digital asset reserve and consumer goods brand company, announced its "record-breaking" quarterly performance. Its digital asset revenue surpassed $6 million, driving the overall gross profit to $8.3 million, a year-on-year surge of 183%.
The financial report of this Nasdaq-listed company shows that the total revenue for the first quarter was $9.2 million (compared to $4.4 million in the same period last year), with $6.1 million mainly contributed by digital asset income from staking rewards. The company simultaneously completed a $200 million private placement of common stock and convertible bonds in this quarter and signed a $500 million equity financing agreement with A.G.P to accelerate its Solana asset reserve strategic expansion.
The quarterly net profit reached $67 million ($1.21 per share), turning a loss of $1.6 million ($1.55 per share loss) in the quarter ending September 30, 2024, into a profit. The announcement on Wednesday stated that the profit growth mainly came from an unrealized gain of around $78 million from the Solana asset reserve.
With the latest increase in holdings last week, Upexi's total stake now exceeds 2.1 million SOL.
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