Svmuu reported that shares of Solana treasury company Upexi fell 8.16% on Tuesday, after the company reported its third fiscal quarter net loss widened to $109 million, primarily driven by a decline in the value of its cryptocurrency holdings. According to a company filing on Tuesday, its digital assets incurred an unrealized loss of $92.3 million. Despite a 46% year-over-year increase in total revenue to $4.6 million, boosted by cryptocurrency staking income, the company still recorded a loss.
Upexi's financial results show that as of March 31, the company held 2.5 million Solana tokens, valued at over $238 million, making it the second-largest corporate treasury holder of Solana tokens (behind Forward Industries, which holds over 7 million Solana tokens), according to data from CoinGecko.