Upexi authorized a $50 million share buyback after its stock plunged 47% and holds roughly 2 million SOL on the balance sheet. Institutional Solana treasuries have largely maintained positions even as many crypto-backed stocks trade below their Solana-backed net asset value.
Upexi's board approved a $50 million open-ended stock repurchase program aimed at boosting shareholder value. The move underscores a growing trend of crypto firms using corporate treasuries to support equity prices.
Nasdaq-listed Upexi (UPXI) said its board authorized repurchases of up to $50 million of its common stock on Thursday, signaling active capital management from a Solana-focused digital asset treasury. The move reflects a broader shift of crypto treasuries toward buybacks to return capital and potentially support share prices.
Upexi reported a historic $66.7 million net income, flipping from prior losses thanks to a $78 million unrealized gain on crypto assets tied to its Solana treasury. The firm also secured $700 million in credit lines and capital to scale digital-asset acquisition and management.
Solana treasury manager Upexi posted over $6 million in digital asset revenue for the quarter and recorded roughly $78 million in unrealized gains on its SOL holdings. The results highlight stronger mark-to-market performance for the firm and added firepower for its treasury operations.