Upexi is a digital asset treasury company focused on accumulating and managing Solana (SOL) tokens on its balance sheet. Upexi's core strategy is to increase its SOL holdings on a per-share basis through treasury management and public capital markets transactions. The company generates recurring revenue primarily through staking rewards by delegating its SOL to Solana network validators. Upexi also generates returns by purchasing locked SOL at a discount to spot prices, capturing value as the tokens vest while earning staking yield throughout the lockup period. To fund treasury expansion, Upexi issues equity and convertible debt when its stock trades at a premium to net asset value, and repurchases shares when trading at a discount. The company holds its digital assets in cold storage with qualified third-party custodians and avoids on-chain leverage. In addition to its treasury operations, Upexi maintains a minor, substantially wound-down consumer products business that sells pet grooming products, energy items, and functional mushroom supplements through direct-to-consumer eCommerce and Amazon.