PURR jumps 15% as Hyperliquid Strategies updates $1.9 billion HYPE treasury and ‘fortress balance sheet’

Nasdaq-listed Hyperliquid Strategies reported first-half fiscal earnings Thursday morning, raising $647 million in equity capital. The firm 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.

Hyperliquid Strategies, which trades under the ticker PURR, maintains $149.9 million in cash and no debt.

The company said it has since deployed $773.4 million to acquire about 16.5 million additional HYPE at an average cost of $46.77 and spent $27.8 million repurchasing PURR shares, leaving $132.6 million in cash as of Aug. 19.

"This was the year we built the platform," CEO David Schamis said in a press release. "We are building against a protocol that is winning the parts of onchain finance that generate real fees. Perpetuals, stablecoins, real-world assets and soon outcome markets all clear through a single order book and margin engine, and most of the value that is created is returned to HYPE holders through programmatic buybacks."

Schamis said the company finished with a "fortress balance sheet", that is, meaningful cash, no debt, and substantially all of its tokens staked and earning. The firm reported $709.9 million in net unrealized gains on HYPE tokens, which was offset by a one-time loss on HYPE tokens contributed after the business combination of $169.2 million.

"We look forward to continuing to support the ecosystem as Hyperliquid becomes the infrastructure to house all of finance," he said.

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PURR shares surged nearly 18% in Thursday's session, trading around $13.59 at publication time. The company has a market cap of about $1.8 billion. The firm has also reached its highest mNAV since May, sitting at around 1.35x.

For its part, the HYPE token rose 77% during the quarter ended June 30 and is up more than 50% over the past month alone, according to The Block's HYPE price data. The platform and its token received a boost during a recent press conference from President Donald Trump.

"I understand Mike [Selig] is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion," Trump said on Aug. 19.