Upexi Treasury Inc., a consumer products company listed on NASDAQ, announced today that it has purchased 83,000 SOL for $16.7 million. This purchase increased Upexi’s total Solana holdings to 1.9 million SOL, which is valued at approximately $381 million. The company acquired the coins at an average price of $201.34 per SOL. The acquisition is part of the firm’s plan to diversify its investments and capitalize on digital assets.
Upexi’s $16.7M Buys 83,000 SOL
The acquisition of 83,000 SOL was made possible through the firm’s available funds, demonstrating the company’s commitment to its crypto strategy. The company’s decision to acquire more SOL is part of its treasury strategy, aiming to capitalize on the growing adoption of blockchain technology.
Two weeks ago, the company raised $50 million through an equity placement and simultaneously issued $150 million in convertible notes backed by Solana coins. The conversion price was set at $4.25 per share. Major institutional investors support this note offering, which closed around July 16, 2025.
These moves show Upexi’s commitment to strengthening its finances and expanding its investments in digital assets. By pursuing both an equity placement and convertible notes, the SOL-buying company aims to establish a strong foundation for future growth in a rapidly changing market.
A Favorable Legislation
The company believes that the progress in U.S. digital asset legislation will drive the adoption of blockchain technology, positioning Upexi to benefit from this trend. Additionally, Solana’s fast transaction times and low fees make it an attractive choice for the Nasdaq-listed company’s crypto strategy.
The company expects its investment in Solana to yield long-term returns as the technology continues to mature. Upexi’s treasury strategy is designed to increase shareholder value through strategic investments in digital assets.
Solana’s appeal seems to be the force behind the attraction, with companies like Bit Mining expanding into the ecosystem with $200 million and $300 million in phased funding to establish a significant SOL treasury. Upexi’s strategic move into Solana positions the company for potential long-term growth and adoption.
