Hyperliquid Strategies reported a net loss of $165 million for the nine months ended March 31.

CoinFeed reported on May 8th that, according to The Block, Nasdaq-listed HYPE treasury company Hyperliquid Strategies reported a net loss of $165.4 million for the nine months ending March 31st, primarily due to a $64 million unrealized net loss from treasury holdings and related acquisition costs. Since its inception in December 2025, the company has invested $216 million to purchase approximately 7.3 million HYPE tokens, currently holding approximately 20 million HYPE tokens. The company's CEO stated that substantial progress was made this quarter in building HYPE exposure, and also announced a validator partnership with Unit and completed the disposal of most of its legacy biotechnology business.