Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Jun. 30, 2025
Current assets
Cash and cash equivalents	$ 281,926	$ 0
Prepaids and other current assets	5,182	0
Total current assets	287,108	0
HYPE digital assets	327,610	0
Other non-current assets	1,921	0
Total assets	616,639	0
Current liabilities
Accounts payable	2,420	597
Other current liabilities	6,659	0
Total current liabilities	9,079	597
Deferred tax liability	17,795	0
Total Liabilities	26,874	597
Stockholders' Equity (Deficit):
Series A Preferred stock, $0.01 par value, 100,000,000 shares authorized, 166,173 and 0, shares issued and outstanding as of December 31, 2025, and June 30, 2025, respectively	2	0
Common stock, $0.01 par value, 2,000,000,000 shares authorized; 127,034,605 shares issued and 124,093,048 outstanding (excluding treasury shares of 2,941,557) and 0 shares issued and outstanding (excluding treasury shares of 0) as of December 31, 2025, and June 30, 2025, respectively	1,270	0
Additional paid-in capital	917,094	0
Accumulated deficit	(318,458)	(597)
Treasury stock, at cost; 2,941,557 and 0 shares as of December 31, 2025, and June 30, 2025, respectively	(10,143)	0
Total Stockholders' Equity (Deficit)	589,765	(597)
Total Liabilities and Stockholder's Equity (Deficit)	$ 616,639	$ 0

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Name:	us-gaap_AccountsPayableCurrent
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.