Hyperliquid Strategies Doubles HYPE Treasury After $647M Raise

Hyperliquid Strategies raised $647M in equity and doubled its HYPE treasury to 29.3M tokens (~$1.9B) at fiscal year-end, with $149.9M cash and zero debt. Since then it deployed $773.4M for another 16.5M HYPE at avg $46.77 and $27.8M buying back PURR, leaving $132.6M cash as of Aug 19 — an aggressive, all-equity-funded accumulation strategy.