PANews reported on May 13th, citing Cointelegraph, that Upexi, the Solana treasury company, released its third-quarter financial report, showing a widening net loss to $109 million, primarily dragged down by a $92.3 million unrealized loss on digital assets. Total revenue increased by 46% year-over-year to $4.6 million, mainly from staking income. The report shows that as of March 31st, Upexi held 2.5 million Solana tokens, worth over $238 million, making it the second-largest Solana treasury after Forward Industries. Following the release of the financial report, Upexi's stock price fell 8.16%. CEO Marshall stated that the company is improving its fundamentals through stock buybacks and convertible note financing, and that in the long term, Solana should be considered an asset independent of Bitcoin.