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- Cryptocurrency Treasury Strategy (new) — Filing discloses a named Bitcoin treasury/financing strategy (1940-Act risk). On minimal cash with going-concern doubt, this non-standard treasury pivot is material.
revenue $9.5M, net income $305.5M. Hyperliquid Strategies debuts as HYPE treasury company with token position
Filed August 27, 2026 · Period ending June 30, 2026 · ~2 min read
Key Changes
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Company holds 29.4M HYPE tokens valued at $1.9B as of June 30, 2026, representing the largest U.S. public company position in Hyperliquid's Layer 1 blockchain ecosystem. Token price ranged from $10.26 to $82.28 over the prior 20 months.
Business: HYPE holdings and market position verify on EDGAR → -
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Recorded $709.9M unrealized gain on HYPE holdings and $9.5M staking revenue, offset by $183.5M deferred tax liability. Net income was $305.5M for fiscal 2026.
MD&A: Financial results verify on EDGAR → -
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Completed reverse merger Dec 2, 2025, raising $880.4M gross proceeds ($299.9M cash plus 12.5M HYPE tokens). Subsequently issued 76.1M shares under $1B equity facility for $646.6M gross proceeds through June 30, 2026.
Notes: Reverse recapitalization and equity facility verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 28, 2026 · How we verify