Hyperliquid Strategies’ stock climbed 10.99% to $12.83 on Thursday after the treasury company reported $305.5 million in net income for the fiscal year ended June 30. PURR added another 3.43% to $13.27 in after-hours trading.

The Nasdaq-listed firm finished the period with 29.3 million HYPE tokens and $149.9 million in cash. It carries no debt.

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HYPE Rally Drives the Profit

Most of the earnings came from token price movement. Unrealized gains on the HYPE token reached $709.9 million, according to the company’s results.

A one-time loss of $169.2 million on tokens contributed at the business combination offset part of that figure. Deferred tax expense absorbed another $183.5 million.

Operating income stayed small by comparison. Staking revenue and validator commissions totaled $9.5 million, while interest income added $2.7 million.

Total assets reached $2.06 billion, including $1.9 billion in HYPE valued at $65.04 per token. CEO David Schamis framed the year as a build phase.

“We more than doubled our HYPE treasury, jointly launched a validator that has quickly become one of the largest on the network and completed the exit from our legacy biotech operations,” Schamis said.

Meanwhile, Hyperliquid Strategies raised $646.6 million through a committed equity facility at an average of $8.70 per share. It also deployed $773.4 million to buy roughly 16.5 million HYPE at an average of $46.77.

The company spent $27.8 million repurchasing about 5.8 million PURR shares at an average price of $4.80. Cash stood at $132.6 million as of August 19.

HYPE Treasuries Split From the Sector

HYPE appreciated about 77% during the quarter ended June 30. Total digital asset market capitalization fell roughly 13% over the same stretch.

That divergence separated HYPE-focused vehicles from the rest of the treasury sector, which saw losses. Hyperion DeFi reported record quarterly net income of $31 million this month, driven by similar treasury gains.

Companies tied to other tokens reported the opposite. Bitcoin’s (BTC) largest corporate holder, Strategy, booked an $8.62 billion net quarterly loss.

Bit Digital posted a $107.2 million loss, with roughly $86 million tied to writedowns and non-operating items. Token performance, rather than treasury design, drove most of the gap this quarter.

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Source: BeInCrypto