Upexi shares drop 8.16% after Q3 loss widens due to Solana asset write-downs.

Upexi reported a net loss of $109.3 million in Q3, mainly due to $92.3 million in unrealized losses on its Solana digital assets. Despite the loss, the company increased its Solana holdings by 189,000 tokens to 2.5 million and saw revenue rise to $4.6 million, driven by staking activity. CEO Allan Marshall noted challenges from Solana's price drop and a tough crypto market but highlighted efforts like share repurchases and debt reduction. Upexi remains the second-largest public Solana treasury holder behind Forward Industries, which holds over 7 million tokens.