The Company’s digital assets are comprised solely of HYPE tokens. The following tables present a reconciliation of the Company’s assets related to its HYPE digital assets from both a dollar value and tokens perspective:


	(In thousands)
Balance, June 30, 2025	$	-
Purchases of HYPE digital assets		-
Balance, September 30, 2025		-
Contributions of HYPE digital assets from Rorschach Contributions		580,466
Purchases of HYPE digital assets		9,000
Unrealized loss on HYPE digital assets		(93,200	)
Loss on HYPE contribution commitment		(169,156	)
Receipt of HYPE digital assets from staking activities		500
Balance, December 31, 2025	$	327,610


	(HYPE tokens)
Balance, June 30, 2025		-
Purchases of HYPE digital assets		-
Balance, September 30, 2025		-
Contributions of HYPE digital assets from Rorschach Contributions		12,517,592
Purchases of HYPE digital assets		321,224
Receipt of HYPE digital assets from staking activities		18,717
Balance, December 31, 2025		12,857,533

The following table sets forth the units held, cost basis, and fair value of HYPE digital assets held, as shown on the balance sheet as of December 31, 2025:


			(In thousands)
	Units		Cost Basis		Fair Value
HYPE digital assets		12,857,533	$	589,966	$	327,610
Total		12,857,533	$	589,966	$	327,610

Cost basis is equal to the cost of the HYPE tokens, net of any transaction fees, if any, at the time of purchase or upon receipt. Fair value represents the quoted HYPE token prices within the Company’s principal market at the time of measurement (midnight UTC). The receipts of HYPE from native staking represent the rewards earned from staking.