Solana News: Upexi Reveals $100M SOL Reserve, Stock Soars 335%

Upexi, a Nasdaq-listed consumer goods company, just made a major move into the crypto space – and investors are paying attention. The company’s stock surged 335% after it revealed plans to build a Solana-backed corporate treasury funded by a $100 million raise.

Shares soared from $2.28 to $9.89, a level not seen in over a year. At one point, the stock briefly hit $22, driven by excitement around the company’s shift into digital assets.

With backing from major crypto players and plans that go beyond just holding tokens, Upexi may be laying the groundwork for something much bigger.

Building a $100M Solana Treasury

Out of the $100 million raised, $5.3 million will go toward supporting Upexi’s core operations and reducing debt. The remaining funds will be used to establish a crypto treasury centered on Solana (SOL), a move that reflects the company’s strong confidence in the blockchain’s long-term future.

The funding round attracted several major crypto investors, including GSR, Big Brain, and Delphi Ventures. The deal is expected to close by April 24.

Quantum Hash Steps Into Mining

Upexi is getting involved in the infrastructure side as well. Its crypto division, Quantum Hash, has committed to acquiring a 2MW mining facility, with plans to expand further in 2025.

This move shows how Upexi is aiming to play an active role in the broader blockchain ecosystem.

Following the Strategy Playbook

Upexi’s crypto strategy is closely aligned with that of MicroStrategy, now Strategy, the tech firm led by Michael Saylor, which has amassed over $47 billion in Bitcoin. Recently, Strategy revealed it had added another 6,500 BTC to its portfolio, solidifying its status as a major crypto player.

Other companies are following suit. Japanese investment firm Metaplanet recently purchased 330 BTC worth $28 million, joining the growing list of institutions treating crypto as a strategic reserve asset.

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Solana’s Growing Appeal

Solana is increasingly gaining attention from institutional players. Just days before Upexi’s announcement, real estate tech firm Janover added $10.5 million in SOL to its corporate treasury.

The market response was immediate—Janover’s stock surged from $4.44 to $40.25 and briefly touched $79.50. This jump highlights growing investor confidence in Solana as a serious asset class.

Upexi’s entry into crypto, backed by investors like GSR and support from the Solana Foundation, marks another step in the ongoing shift where traditional finance intersects with blockchain.

At the time of writing, Solana is trading around $136, with momentum continuing to build as more companies explore digital asset strategies.