Hyperliquid Treasury Firms Stay Profitable as Bitcoin, Ether Holders Suffer Heavy Paper Losses
Summary
- Hyperliquid Strategies and Hyperion DeFi are maintaining paper gains of about $1.1 billion and $35 million, respectively, through their HYPE holdings.
- Strategy, the world's largest publicly traded Bitcoin holder, and Japan's Metaplanet are recording unrealized losses of about $12.8 billion and $1.7 billion, respectively, as Bitcoin prices fall.
- BitMine, SharpLink and Forward Industries are carrying unrealized losses of as much as $10.5 billion, $1.8 billion and $1.2 billion, respectively, as Ether and Solana remain weak.
Forecast Trend Report by Period
Digital asset treasury, or DAT, companies are seeing sharply diverging results in the broader crypto downturn.
The Block reported on June 5 that treasury firms centered on Bitcoin, Ether and Solana have posted large unrealized losses, while companies built around Hyperliquid continue to hold sizable paper gains.
Artemis data show Hyperliquid Strategies, a Hyperliquid treasury firm, holds about 23.7 million HYPE and is sitting on roughly $1.1 billion in unrealized gains.
Another HYPE treasury company, Hyperion DeFi, held more than 2 million HYPE in its latest filing with the US Securities and Exchange Commission and was showing about $35 million in paper gains.
Bitcoin treasury companies, by contrast, are reporting steep unrealized losses. Strategy, the world's largest publicly traded corporate holder of Bitcoin, is now facing more than $12.8 billion in unrealized losses. After the company recently sold 32 Bitcoin, the token's drop to around $59,000 left its holdings under water by about 20%, the report said.
Japan's Metaplanet is also carrying about $1.7 billion in unrealized losses, and its stock has fallen to the lowest level since it adopted a Bitcoin treasury strategy.
Ether treasury companies are in a similar position. BitMine, the world's largest Ether treasury company, holds more than 5.4 million ETH but is estimated to be sitting on about $10.5 billion in unrealized losses.
SharpLink also holds about 869,000 ETH and is carrying paper losses of roughly $1.8 billion.
Solana treasury companies have not escaped the slump. With Solana falling to the $60 range, Forward Industries, the largest Solana treasury company, is posting about $1.2 billion in unrealized losses.
