Hyperliquid Strategies Inc. (NASDAQ: $PURR) shares climbed Thursday after the company reported fiscal 2026 results showing a $1.9 billion HYPE treasury, $305.5 million in net income and no debt.

The digital asset treasury firm ended June with 29.3 million HYPE tokens, up from an initial 12.5 million, after raising $647 million through its committed equity facility. Total assets reached $2.06 billion, including $149.9 million in cash and cash-like instruments and $1.904 billion in HYPE based on the token's June 30 price of $65.04.

Most of the reported profit came from the token position rather than operating revenue. Hyperliquid Strategies recorded $709.9 million in net unrealized HYPE gains, partly offset by a $169.2 million one-time loss tied to tokens contributed at the business combination and $183.5 million in deferred tax expense. Staking revenue and validator commissions totalled $9.5 million.

More From Cryptoprowl:

Bernstein Forecasts Bitcoin Will Reach $150,000 By Mid-2027

Goldman Sachs Reiterates Buy Ratings On Coinbase And Robinhood

Coinbase Debuts Tokenized Stocks On Base Network

JPMorgan Eases SpaceX Lending Rules to Capture AI Wealth

MEXC Launches SHEIN Subscription with $1M Quota as Inaugural IPO Express Event

"This was the year we built the platform," CEO David Schamis said, pointing to the larger treasury, the company's validator launch and its exit from legacy biotech operations.

The underlying Hyperliquid ecosystem also strengthened during the period. HYPE gained about 77% in the quarter ended June 30 while the broader digital asset market capitalization fell roughly 13%. Hyperliquid's share of global perpetual futures volume reached about 9.4%, while its decentralized perpetuals open-interest share stood near 63% as of Aug. 23.

HSI has continued deploying capital since the fiscal year closed. As of Aug. 19, it had spent $773.4 million accumulating about 16.5 million HYPE at an average price of $46.77 and another $27.8 million repurchasing roughly 5.8 million PURR shares at $4.80 apiece.

The structure leaves PURR closely tied to HYPE's market value, but staking income, validator participation and share repurchases give the treasury model more than a passive token-holding profile.

Hyperliquid Strategies Inc. (NASDAQ: PURR) closed at $12.82 U.S. per share. Hyperliquid (CRYPTO: $HYPE) is trading at $84.90 U.S. per digital token.