Hyperliquid Strategies Inc. purchased 600,000 native HYPE tokens over the past seven days. The total accumulation is valued at approximately $40.6 million.
The company funded the acquisition using $36 million from its existing cash position. Hyperliquid Strategies currently retains $149.4 million in cash reserves.
This capital deployment aims to increase shareholder exposure to the HYPE token. The firm avoided issuing new shares because its adjusted modified net asset value per share (mNAV) was near or below 1.