Upexi, a Nasdaq-listed company focused on building a treasury of Solana (SOL) tokens, has been actively raising capital to expand its holdings. In July 2025, Upexi announced a $200 million raise composed of a $150 million note led by Big Brain VC and a $50 million private equity round. These funds are intended to increase its Solana treasury to approximately 1.65 million SOL by mid-July 2025, more than doubling its previous balance of 735,692 SOL. Following this, Upexi acquired an additional 100,000 SOL for $17.7 million, bringing its total holdings to 1.82 million SOL valued at $331 million, with $58 million in unrealized gains. Shortly thereafter, the company purchased another 83,000 SOL for $16.7 million, increasing its total to 1.9 million SOL worth $381 million. In late July 2025, Upexi secured a $500 million equity line agreement with A.G.P./Alliance Global Partners. This credit facility, offered with zero fees and no commitment costs, is designed to support general corporate purposes and further expand Upexi's Solana treasury strategy. Upexi is now the largest corporate holder of Solana tokens, continuing to build its position in the Solana ecosystem.