Subsequent Events	6 Months Ended
Jun. 30, 2026
Subsequent Events
Subsequent Events	Note 13 - Subsequent Events HYPE Digital Token Activity Subsequent to June 30, 2026, the Company purchased approximately 7,500 HYPE digital tokens for a cost of approximately $0.5 million. The purchased HYPE has subsequently been used as collateral for OTC HYPE options and is held by an institutional derivative counterparty. Subsequent to June 30, 2026, the Company entered into additional OTC HYPE options agreements with 250,000 kHYPE being held by institutional derivative counterparties as collateral. Subsequent to June 30, 2026, the Company redeemed approximately 55,434 kHYPE for approximately 56,682 HYPE. The fair value price of HYPE has declined from approximately $65.00 as of June 30, 2026 to $55.40 as of August 10, 2026, which corresponds to a fair value decline on our approximately 1.1 million tokens of HYPE digital assets held as of June 30, 2026 of approximately $10.9 million. Hyperion Rysk Vault Activity Subsequent to June 30, 2026, the Company delivered approximately $1.1 million USDC to the Hyperion Rysk Vault. Series A Preferred Stock Dividend On July 6, 2026, pursuant to Section 3.1 of the Company’s Certificate of Designation, the Company paid its quarterly dividend payable to holders of the Series A Preferred Stock in 235,618 shares of the Company’s common stock. HAUS Agreement with Skew On July 15, 2026, the Company entered into a HAUS Agreement with Skew Technologies, Inc. (“Skew”). The Company agreed to supply 500,000 HYPE tokens to support custom markets on Hyperliquid’s permissionless infrastructure. The Company will be entitled to earn a portion of the trading fees generated on these markets as income, plus 100% of staking rewards. The agreement has an initial term of 52 weeks and is automatically renewable for successive 26-week periods unless either party provides notice of termination within 60 days prior to the end of the initial term; in addition, the Company may terminate the agreement for any reason upon 90 days’ prior written notice. HAUS Agreement with Bursa On August 10, 2026, the Company entered into a HAUS Agreement with Bursa Global, Inc. (“Bursa”). The Company agreed to supply 500,000 HYPE tokens to support custom markets on Hyperliquid’s permissionless infrastructure. The Company will be entitled to earn fees from Bursa plus 100% of staking rewards. The agreement has an initial term of 52 weeks and is automatically renewable for successive 26-week periods unless either party provides notice of termination within 60 days prior to the end of the initial term. HyperLend Loan On July 17, 2026, the Company entered into a lending arrangement pursuant to a Facility Schedule dated July 16, 2026 (“Facility”) to the Master Facility Agreement between HyperLend and the Company, dated June 6, 2026, whereby HyperLend facilitates loans through its platform, the Company acts as lender and a privately-held fund (the “Borrower”) is the borrower. The Facility provides for a principal amount of up to $1.0 million, denominated in USDC. The Facility has a term of one month and bears a fixed interest rate of 8.0% per annum payable to the Company. Accrued interest and principal is due at maturity, subject to earlier repayment provisions. The Borrower’s obligations are collateralized by digital assets consisting of natively staked HYPE tokens, which are subject to a security interest and related control rights in favor of HyperLend, acting for itself and for the benefit of the Company. The collateral arrangements are governed by the Facility and an Account Control Agreement among Anchorage Digital Bank N.A. (as the custodian), the Borrower (as pledgor) and HyperLend (as secured party for itself and for the benefit of the Company). The terms of the loan arrangement include customary margin maintenance, liquidation, and collateral monitoring provisions, including specified loan-to-value thresholds and liquidation triggers.

Subsequent Events

6 Months Ended

Jun. 30, 2026

Note 13 - Subsequent Events

HYPE Digital Token Activity

Subsequent to June 30, 2026, the Company purchased approximately 7,500 HYPE digital tokens for a cost of approximately $0.5 million. The purchased HYPE has subsequently been used as collateral for OTC HYPE options and is held by an institutional derivative counterparty.

Subsequent to June 30, 2026, the Company entered into additional OTC HYPE options agreements with 250,000 kHYPE being held by institutional derivative counterparties as collateral.

Subsequent to June 30, 2026, the Company redeemed approximately 55,434 kHYPE for approximately 56,682 HYPE.

The fair value price of HYPE has declined from approximately $65.00 as of June 30, 2026 to $55.40 as of August 10, 2026, which corresponds to a fair value decline on our approximately 1.1 million tokens of HYPE digital assets held as of June 30, 2026 of approximately $10.9 million.

Hyperion Rysk Vault Activity

Subsequent to June 30, 2026, the Company delivered approximately $1.1 million USDC to the Hyperion Rysk Vault.

Series A Preferred Stock Dividend

On July 6, 2026, pursuant to Section 3.1 of the Company’s Certificate of Designation, the Company paid its quarterly dividend payable to holders of the Series A Preferred Stock in 235,618 shares of the Company’s common stock.

HAUS Agreement with Skew

On July 15, 2026, the Company entered into a HAUS Agreement with Skew Technologies, Inc. (“Skew”). The Company agreed to supply 500,000 HYPE tokens to support custom markets on Hyperliquid’s permissionless infrastructure. The Company will be entitled to earn a portion of the trading fees generated on these markets as income, plus 100% of staking rewards. The agreement has an initial term of 52 weeks and is automatically renewable for successive 26-week periods unless either party provides notice of termination within 60 days prior to the end of the initial term; in addition, the Company may terminate the agreement for any reason upon 90 days’ prior written notice.

HAUS Agreement with Bursa

On August 10, 2026, the Company entered into a HAUS Agreement with Bursa Global, Inc. (“Bursa”). The Company agreed to supply 500,000 HYPE tokens to support custom markets on Hyperliquid’s permissionless infrastructure. The Company will be entitled to earn fees from Bursa plus 100% of staking rewards. The agreement has an initial term of 52 weeks and is automatically renewable for successive 26-week periods unless either party provides notice of termination within 60 days prior to the end of the initial term.

HyperLend Loan

On July 17, 2026, the Company entered into a lending arrangement pursuant to a Facility Schedule dated July 16, 2026 (“Facility”) to the Master Facility Agreement between HyperLend and the Company, dated June 6, 2026, whereby HyperLend facilitates loans through its platform, the Company acts as lender and a privately-held fund (the “Borrower”) is the borrower. The Facility provides for a principal amount of up to $1.0 million, denominated in USDC. The Facility has a term of one month and bears a fixed interest rate of 8.0% per annum payable to the Company. Accrued interest and principal is due at maturity, subject to earlier repayment provisions. The Borrower’s obligations are collateralized by digital assets consisting of natively staked HYPE tokens, which are subject to a security interest and related control rights in favor of HyperLend, acting for itself and for the benefit of the Company. The collateral arrangements are governed by the Facility and an Account Control Agreement among Anchorage Digital Bank N.A. (as the custodian), the Borrower (as pledgor) and HyperLend (as secured party for itself and for the benefit of the Company). The terms of the loan arrangement include customary margin maintenance, liquidation, and collateral monitoring provisions, including specified loan-to-value thresholds and liquidation triggers.