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PURR jumps 15% after Hyperliquid doubles its HYPE treasury

Hyperliquid Strategies increased its HYPE holdings to 29.3 million tokens, valued at about $1.9 billion, and spent $773.4 million to buy 16.5 million more HYPE tokens.

Reported · Written up by our desk · Altcoins

Hyperliquid Strategies, which trades on Nasdaq under the ticker PURR, surged about 15% after reporting a larger HYPE token treasury and first-half fiscal results, according to The Block. The firm said it more than doubled its Hyperliquid (HYPE) treasury to 29.3 million tokens, valued at roughly $1.9 billion at the end of its fiscal year ended June 30.

The company reported raising $647 million in equity capital and said it holds $149.9 million in cash and no debt. It also said it deployed $773.4 million to acquire about 16.5 million additional HYPE tokens at an average cost of $46.77.

Hyperliquid Strategies added that it spent $27.8 million to repurchase PURR shares, leaving $132.6 million in cash as of Aug. 19. The Block also reported that CEO David Schamis described the approach as building a “fortress balance sheet,” with substantial cash, no debt, and most tokens staked and earning.

In its results, the firm reported $709.9 million in net unrealized gains on HYPE tokens, offset by a one-time loss on HYPE tokens contributed after a business combination totaling $169.2 million, The Block said. The company also said its capital build supports staking and programmatic buybacks tied to HYPE holders.

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