- Hyperliquid Strategies raised $647 million in equity capital and more than doubled its HYPE treasury to 29.3 million tokens.
- The company has since spent $773.4 million acquiring another 16.5 million HYPE at an average price of $46.77 per token.
- PURR shares jumped nearly 18% as Hyperliquid’s ecosystem continues gaining momentum and attention in the U.S.
Nasdaq-listed Hyperliquid Strategies has significantly expanded its exposure to HYPE after raising $647 million in equity capital during its fiscal year.
The company reported holding 29.3 million HYPE tokens worth approximately $1.9 billion at the end of its fiscal year on June 30. Hyperliquid Strategies, which trades under the ticker PURR, also finished the period with $149.9 million in cash and no debt.
Since then, the company has deployed another $773.4 million to purchase approximately 16.5 million HYPE at an average cost of $46.77 per token.
Hyperliquid Strategies also spent $27.8 million repurchasing PURR shares, leaving the company with approximately $132.6 million in cash as of Aug. 19.
Hyperliquid Strategies Builds Its HYPE Position
CEO David Schamis said the past year was focused on building the company’s platform around Hyperliquid and its expanding role in onchain finance.
The company sees opportunities across perpetual futures, stablecoins, real-world assets and outcome markets, all of which can operate through Hyperliquid’s infrastructure.
Hyperliquid Strategies also said substantially all of its HYPE holdings are staked and generating returns.
The firm reported $709.9 million in net unrealized gains from its HYPE holdings. That was partially offset by a one-time $169.2 million loss related to HYPE tokens contributed following its business combination.
Schamis said the company’s cash position, lack of debt and staked token holdings have given it a strong balance sheet as it continues supporting the Hyperliquid ecosystem.
PURR Shares Jump as HYPE Gains Momentum
Investors responded positively to the earnings report, with PURR shares climbing nearly 18% on Thursday to around $13.59.
That puts Hyperliquid Strategies‘ market capitalization at approximately $1.8 billion. Its mNAV has also climbed to around 1.35x, its highest level since May.
HYPE itself has delivered strong gains. The token rose 77% during the quarter ending June 30 and has gained more than 50% over the past month.
Hyperliquid has also received increased attention in Washington after President Donald Trump said on Aug. 19 that CFTC Chair Mike Selig was working to bring the platform into the U.S. in a “fully compliant and legal fashion.”
A successful expansion into the U.S., combined with continued growth in Hyperliquid’s trading ecosystem, could become increasingly important for Hyperliquid Strategies given the size of its HYPE treasury.
