v3.26.1
Digital Assets
 12 Months Ended
Jun. 30, 2026
Digital Assets [Abstract]  
Digital Assets

NOTE 3. DIGITAL ASSETS

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

 

 

 

(In thousands)

 

 

 

HYPE

 

 

USDC*

 

 

Total

 

Balance, June 13, 2025 (Inception)

 

$

-

 

 

$

-

 

 

$

-

 

Purchases

 

 

-

 

 

 

-

 

 

 

-

 

Balance, June 30, 2025

 

$

-

 

 

$

-

 

 

$

-

 

Contributions of HYPE digital assets from Rorschach Contributions

 

 

580,466

 

 

 

-

 

 

 

580,466

 

Purchases

 

 

773,416

 

 

 

307,293

 

 

 

1,080,709

 

Unrealized gains

 

 

709,875

 

 

 

-

 

 

 

709,875

 

Unrealized loss on HYPE contribution commitment

 

 

(169,156

)

 

 

-

 

 

 

(169,156

)

Receipt of HYPE digital assets from staking and validator activities

 

 

9,450

 

 

 

-

 

 

 

9,450

 

Sales

 

-

 

 

 

(295,269

)

 

 

(295,269

)

Other receipts of HYPE digital assets

 

 

1

 

 

 

-

 

 

 

1

 

Balance, June 30, 2026

 

$

1,904,052

 

 

$

12,024

 

 

$

1,916,076

 

 

 

 

(HYPE tokens)

 

 

(USDC tokens*)

 

Balance, June 13, 2025 (Inception)

 

 

-

 

 

 

-

 

Purchases

 

 

-

 

 

 

-

 

Balance, June 30, 2025

 

 

-

 

 

 

-

 

Contributions of HYPE digital assets from Rorschach Contributions

 

 

12,517,592

 

 

 

-

 

Purchases

 

 

16,537,519

 

 

 

307,293,249

 

Receipt of HYPE digital assets from staking and validator activities

 

 

219,924

 

 

 

-

 

Sales

 

 

-

 

 

 

(295,268,982

)

Other receipts of HYPE digital assets

 

 

50

 

 

 

-

 

Balance, June 30, 2026

 

 

29,275,085

 

 

 

12,024,267

 

 

*The tables above include all balances presented within the Company’s HYPE digital assets and digital assets line items on the consolidated balance sheets, based on quoted prices on active exchanges. The table also includes a separate column reflecting transactions involving USDC, which is not presented as digital asset on the consolidated balance sheets. This column has been included to provide additional transparency. USDC is classified within prepaid expenses and other current assets.

HYPE Digital Assets

The following table sets forth the units held, cost basis, and fair value of HYPE digital assets held, as shown on the consolidated balance sheets as of June 30, 2026:

 

 

 

 

 

 

(In thousands)

 

 

 

Units

 

 

Cost Basis

 

 

Fair Value

 

HYPE digital assets

 

 

29,275,085

 

 

$

1,363,333

 

 

$

1,904,052

 

 

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 (one second before midnight UTC), which was $65.04 for the year ended June 30, 2026. The receipts of HYPE from native staking represent the rewards earned from staking.