Hyperliquid Strategies Inc Common Stock

Hyperliquid Strategies Inc (NASDAQ: PURR) is a digital asset treasury company whose primary business is accumulating HYPE, the native token of the Hyperliquid blockchain — a high-performance Layer 1 blockchain custom-built to serve as infrastructure for decentralized finance. The company provides U.S. and institutional investors with capital-efficient, regulated access to HYPE exposure through a publicly traded equity vehicle. HSI generates yield by staking substantially all of its HYPE tokens and operating one of the largest validators on the Hyperliquid network (jointly with Unit). The company raises capital through equity issuances and deploys proceeds primarily to acquire additional HYPE tokens and repurchase its own shares. Hyperliquid itself operates a decentralized exchange with a fully on-chain order book supporting perpetual futures, spot trading, real-world asset perps, and emerging outcome (prediction) markets, processing billions in daily trading volume. HSI ranks as the sixth-largest digital asset treasury company globally and the largest for any token other than Bitcoin or Ethereum. The company carries zero debt and maintains its treasury in HYPE tokens, cash, Treasury bills, and money market funds. Updated Aug 27, 2026