Nasdaq-listed Upexi shares up 630% after $100M raise, SOL treasury
Upexi is diversifying into the cryptocurrency sector, announcing a $100 million raise on April 21, with over 90% allocated for a Solana treasury strategy. Following the announcement, Upexi's shares surged from $2.30 to $16.79, a 632% increase. Prominent crypto venture capital firms participated in the raise, including Arthur Hayes' family office and Delta Blockchain Fund. The round involved selling approximately 44 million shares at $2.28 each. Upexi reported a profit of $3 million in Q4 2024, down 34.8% from the previous year. Other companies, like Metaplanet and Semler Scientific, have adopted Bitcoin treasury strategies, while Janover, led by former Kraken executives, is also pursuing a Solana treasury strategy with a $10.5 million SOL acquisition. Solana, known for its fast transaction speeds, has gained traction in the current bull market.
