Solana DAT Upexi posts $109.3 mln loss in Q1 2026 – Here’s why
The Solana [SOL] digital asset treasury (DAT) firm Upexi Inc. made about $4.6 million in complete income within the first quarter of 2026. It is a good soar in comparison with the $3.2 million recorded on the identical time final yr.
In its quarterly report, Upexi’s gross revenue totaled $4.4 million as in comparison with $1.6 million recorded final yr in Q1 2025.
Upexi’s Q1 2026 outcomes increase eyebrows
Nonetheless, regardless of these encouraging figures, web losses for the primary quarter of 2026 got here to $109.3 million, a big enhance over the $3.8 million recorded in the identical quarter that ended on the thirty first of March, 2025.
Upon nearer examination, the report revealed that $92.3 million got here from unrealized losses on digital property—which mirrored non-cash quarter-end honest worth changes—and have been the first reason behind the losses.
Talking concerning the firm’s losses, Upexi CEO Allan Marshall stated,
This quarter’s outcomes mirror diligently executing in opposition to our digital asset treasury technique of accumulating SOL on an accretive per-share foundation and sustaining a versatile capital construction that positions us to pursue alternatives as they emerge.
Upexi’s unprofitable Solana wager
That stated, Upexi had a 9% enhance in Treasury SOLs in the course of the first three months of 2026.
To lift their Solana per share, the corporate additionally elevated the amount of tokens produced by staking and purchased again roughly 2.5 million Upexi shares on the open market.
As AMBCrypto beforehand reported, Upexi and Hivemind Capital had introduced a $36 million personal deal. This was executed to extend its Solana treasury, the place Upexi was to obtain locked SOL in return for a convertible be aware with 1% curiosity.
It was anticipated that the enterprise would maintain greater than 2.4 million SOL after completion.
Again in January, Upexi (UPXI) was additionally the second-largest Solana DAT, representing a 20% enhance in complete holdings. However Iplexi’s losses had dropped them to 3rd place within the Solana DAT rankings, behind Ahead Industries and Defi Growth Corp.
Solana worth motion triggers Upexi’s web loss
Merely put, Upexi’s wager on Solana proved to be unsuccessful as a result of Solana was largely underneath promoting strain in Q1 2026.
As per CoinMarketCap information, the value of SOL dropped from about $124 firstly of the yr to $81 by the tip of March 2026. On the time of publishing, too, the SOL worth was buying and selling at $90.64 after a drop of 5.29% prior to now 24 hours.
Related sentiments have been mirrored within the inventory worth of Upexi, which has seen a drop of over 17% within the yr up to now. Nonetheless, at press time the inventory worth of Upexi was buying and selling at $1.39 after a hike of two.96%.
Last Abstract
- Regardless of escalating web losses, Upexi’s complete income jumped from $3.2 million to $4.6 million in complete income in Q1 2026.
- SOL’s worth motion in the course of the first quarter of 2026 justifies the losses confronted by the Solana DAT.
