Hyperliquid Strategies
Provides listed HYPE exposure through treasury accumulation, staking, and validator operations.
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Profile
Provides listed exposure to HYPE by acquiring and staking the token, while developing validator income through Hyperliquid Strategies x Unit. Revenue has come from staking, making the business a concentrated digital-asset treasury rather than a conventional customer-product company.
Provides listed HYPE exposure for investors that cannot, or prefer not to, hold the token directly. The single digital-asset treasury operation deploys contributed cash and public-equity financing to buy HYPE, stake it for protocol rewards, repurchase shares selectively, and publish treasury, share-count, tokenomics, and adjusted-NAV analytics. Its customer-visible operating brand is the Hyperliquid Strategies x Unit validator, launched with Unit Labs.
Earns its reported revenue from HYPE staking, with validator commissions presented as a prospective additional revenue stream. The balance sheet, staking income, and validator economics depend on HYPE demand and activity on the Hyperliquid network; token custody is concentrated at Anchorage Digital Bank, and execution relies on Unit Labs' jointly operated validator infrastructure. New digital-asset regulation could affect the ability to hold or transact in HYPE. The company is independent of and not affiliated with Hyperliquid.
Company facts
Categories
Key statistics
Year to date +237% · Average volume (30d) 15.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 28, 2026 | Chardan Capital | Target | $8.15 | $17 | |
| Aug 27, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $8 | $22.60 |
| May 11, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $6 | $8 |
| Apr 24, 2026 | Maxim Group | Target | $10 | ||
| Feb 12, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $5 | $6 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 27, 2026Q3 FY26 | −$0.02 | $2.76 | +13,900.0% | $5.4M | $6.3M | +16.1% | +10.99% |
| May 7, 2026Q2 FY26 | −$0.67 | $1.01 | +251.5% | $1.8M | $2.6M | +45.9% | +2.44% |
| Feb 11, 2026Q1 FY26 | −$2.19 | −$7.43 | −239.3% | $50.0K | $50.0K | 0.0% | −6.17% |
| Jan 6, 2026 | — | −$0.01 | — | — | — | — | +1.08% |
Financial highlights
| 4 quarters | — | — | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | $0 | $500.0K | $2.6M | $6.3M | |
| Gross profit | — | — | $0 | $500.0K | $2.6M | $0 | |
| Operating income | — | — | −$1.2M | −$3.0M | −$4.6M | $3.1M | |
| Net income | — | — | −$1.2M | −$304.5M | $152.5M | $470.9M | |
| Diluted EPS | — | — | −$0.01 | −$2.45 | $1.01 | $2.10 | |
| Gross margin | — | — | — | 100.0% | 100.0% | 0.0% | |
| Operating margin | — | — | — | -593.0% | -176.0% | 49.1% |
Balance sheet, Jun 30, 2026Cash & short-term investments $137.9M · Total debt $0 · Total assets $2.06B · Shareholders' equity $1.87B
Dividends
No dividends on record.
Ownership
Shares outstanding 134.60M · Float 114.09M · 84.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 10.15M | 7.54% | 13F | Aug 7, 2026 |
| State Street Corp | 9.00M | 6.68% | 13F | Aug 7, 2026 |
| Morgan Stanley | 8.89M | 6.61% | 13F | Aug 13, 2026 |
| D1 Capital Partners L.P. | 6.34M | 4.71% | 13F | Aug 14, 2026 |
| Paradigm Operations LP | 5.71M | 4.24% | 13F | Aug 14, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Hyperion DeFi
Closest listed HYPE treasury and validator alternative.
- Strategy
Large Bitcoin treasury alternative for digital-asset equity capital.
- BitMine Immersion Technologies
Large ETH treasury with institutional staking and validator overlap.
- DeFi Development
SOL treasury and validator peer for productive Layer-1 exposure.
- Lion Group (ADR)
Smaller listed HYPE reserve alternative for public-market investors.
- Sharplink
Institutional ETH treasury substitute with native and liquid staking.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Hyperliquid Strategies | $11.86 | +2.37% | $1.56B | 17.8 | — | 165.2 | — |
| Hyperion DeFi | $3.25 | +0.15% | $49.4M | — | 4.6 | 35.3 | — |
| Strategy | $127.88 | +0.46% | $42.12B | — | 3.7 | 84.5 | +6.9% |
| BitMine Immersion Technologies | $23.70 | −0.27% | $13.56B | — | 58.0 | 221.5 | +2,166.2% |
| DeFi Development | $4.91 | −1.21% | $150.0M | — | — | 9.9 | +66.9% |
| Lion Group (ADR) | $0.5600 | +7.98% | $2.1K | — | — | 0.0 | — |
| Sharplink | $8.19 | −0.18% | $1.62B | — | 196.9 | 32.2 | +1,553.3% |
| Median | — | 31.3 | 33.7 | +810.1% |