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Upexi Inks $36 Million Deal with Hivemind Capital to Boost Solana Holdings

Upexi Inks $36 Million Deal with Hivemind Capital to Boost Solana Holdings

Upexi's $36 million securities agreement with Hivemind Capital will increase its Solana holdings to over 2.4 million SOL, solidifying its position as the second largest corporate holder of the cryptocurrency.

SOL

Summary

Upexi has finalized a $36 million securities purchase agreement with Hivemind Capital to acquire convertible notes, which will elevate its holdings of Solana's SOL to over 2.4 million, making it the second largest corporate holder of Solana. The notes carry a 1% interest rate with a $2.39 conversion price. The transaction is set to be completed by January 14, 2026.

Terms & Concepts
  • Convertible Note: A type of loan that can be converted into equity, often used to finance companies in early stages or strategic deals.
  • SOL: The native cryptocurrency of the Solana blockchain, used for transactions, staking, and network fees.
  • Locked Tokens: Cryptocurrency held in an account that cannot be transferred or sold until a specified condition or time is met.