Most major digital asset treasury companies tracked by Artemis were in unrealized losses as crypto prices fell, while Hyperliquid-linked firms including Hyperliquid Strategies and Hyperion DeFi remained in profit.
Digital asset treasury companies are under renewed pressure as falling crypto prices pushed most major treasury firms into unrealized losses. Artemis data, cited by The Block, showed that Strategy, Bitmine and other large digital asset treasury companies had slipped into losses, while Hyperliquid-linked treasury firms remained the main outlier. Nasdaq-listed Hyperliquid Strategies held about 23.7 million HYPE with more than $1.1 billion in unrealized profit, and Hyperion DeFi held about 2 million HYPE with about $35 million in unrealized profit. The divergence highlights how corporate treasury strategies tied to volatile tokens can produce sharply different balance-sheet outcomes during market declines.