Upexi Targets Higher-Yield Solana Treasury Strategy for 2026 as Holdings Near 2.2 Million SOL

Upexi, Inc. (NASDAQ:UPXI) has announced its intention to implement a risk-adjusted high-yield strategy for its Solana (SOL) treasury in 2026. The move aims to enhance returns while maintaining a prudent risk profile. This strategy will be executed without disrupting its existing Solana operations.

The company disclosed an updated Solana holdings figure of 2,174,583 SOL as of January 5, 2026. This represents a 3.2% increase compared to October 31, 2025, when it held 2,106,989 SOL.

Upexi also revealed that it has repurchased 416,226 shares of its common stock at an average price of $1.92. Additionally, CEO Allan Marshall purchased 200,000 shares in December.

Why Did This Strategic Shift Occur?

The company emphasized the need to pursue higher yields amid a challenging market environment for digital assets. "As part of this transition, we are focused on materially increasing total yield while maintaining a prudent risk profile," stated CEO Allan Marshall. The strategy is expected to provide greater operational flexibility and align treasury activities with broader corporate objectives.

This shift comes as crypto markets face downward pressure and valuation compression. Upexi has maintained a disciplined approach to capital deployment and share buybacks, even as its equity performance has lagged.

How Did the Company Fund These Initiatives?

The firm has raised capital through a private placement offering, raising $10 million in gross proceeds by issuing 3,289,474 shares of common stock and warrants. These warrants could generate an additional $13 million if fully exercised. Upexi also launched a $50 million share repurchase program.

The company's debt-to-capital ratio stands at 0.58, while its current ratio is 3.41, indicating strong short-term liquidity despite its significant debt burden.

What Do Analysts Say About the Outlook for Upexi?

Analysts have been mixed in their assessments. Cantor Fitzgerald recently reduced its price target for Upexi from $16 to $6 but maintained an Overweight rating, signaling continued confidence in the company's long-term potential.

Upexi has maintained a consistent focus on acquiring and holding Solana in a disciplined manner. Its Solana holdings are now valued at over $300 million, and the firm continues to stake a significant portion of its tokens to generate yield.

The company also operates consumer product brands, adding diversification to its revenue streams. This dual approach—digital assets and consumer products—positions Upexi differently from many of its peers.

Upexi's shares remain down nearly 52% over the past year but have shown recent momentum, posting a 35.71% gain over the past week.

Investors will be watching how the new high-yield strategy performs in practice and whether it leads to improved shareholder value. The company has not yet provided specific details about the new approach, but it plans to do so in the coming weeks.