HYPE Financial Company Hyperliquid Strategies raised $647 million, and HYPE reserves doubled to 29.3 million coins

The Block reported that Hyperliquid Strategies raised $647 million in equity capital and more than doubled its Hyperliquid native token treasury to 29.3 million HYPE, valued at approximately $1.9 billion at the end of the fiscal year, while maintaining $149.9 million in cash and no debt.

The company stated that it has since deployed $773.4 million to acquire approximately 16.5 million additional HYPE at an average cost of $46.77, and spent $27.8 million to repurchase PURR shares, with $132.6 million in cash remaining as of August 19.