Hyperion Profit More Than Triples to $31M as HYPE Treasury Swells Past $132M
Hyperion DeFi Inc. (NASDAQ: HYPD) delivered a second straight record quarter, with net income jumping to $31 million as the value of its HYPE treasury climbed past $132 million. The latest figures underscore how the company’s digital-asset treasury has become a central earnings driver, particularly as HYPE’s price strengthened during the quarter.
Net income rose from $8.8 million in the first quarter. Adjusted EBITDA climbed to $53.7 million from $19.5 million, while gross HYPE holdings increased to $132.6 million from $71 million. HYPE’s token price moved to $65 at quarter-end from $36.60 three months earlier.
Hyperion held 2.04 million HYPE tokens as of June 30, up from 1.94 million in March. Treasury gains reached $54.8 million in the quarter, more than double the $21.5 million recorded in Q1.
The operating side also moved higher. Adjusted gross profit rose 20% quarter over quarter to $1.15 million, helped by a 69% increase in staking income and a 58% rise in yield-enhancement revenue. Operating expenses excluding stock-based compensation fell 21% to $2.3 million.
CEO Hyunsu Jung said Hyperion has “redefined what it means to be a digital asset treasury,” pointing to the company’s expanding HYPE position alongside new businesses built directly on Hyperliquid.
Hyperion is also putting more of that treasury to work. The company committed 500,000 staked HYPE to Entropy, an upcoming HIP-3 deployer, and another 500,000 HYPE to Skew Technologies, which is now targeting Hyperliquid’s HIP-4 outcome markets. Those deployments follow the termination of Native Markets and Felix agreements after the USDH stablecoin was discontinued, freeing 800,000 HYPE for new opportunities.
Management kept full-year adjusted gross profit guidance at $5 million to $7 million and said it expects adjusted operating cash flow to turn positive by the end of the year.
The results give investors a clearer view of how Hyperion is leveraging its HYPE holdings beyond passive exposure. With staked tokens now committed to ecosystem projects, the treasury is becoming an active yield-generating operation, though its value remains closely tied to HYPE’s market price.
Hyperion shares rose about 5% in after-hours trading following the results. The stock last traded at $2.69, while Hyperliquid (HYPE) changed hands at $56.00.