Hyperliquid Doubles Stock-Sale Program to $2.5B

Hyperliquid Strategies Inc., the Nasdaq-listed company building a treasury around HYPE, has doubled its stock-sale program to $2.5 billion from $1 billion. The move demonstrates how corporate treasuries have become an increasingly important source of demand for tokens in the cryptocurrency market.

The change came through Amendment No. 1 to the ChEF Purchase Agreement, a committed equity facility HSI signed with Chardan Capital Markets in October 2025. The original agreement capped gross proceeds at $1 billion, but the September 1 amendment raises that ceiling to $2.5 billion.

HSI had already made heavy use of the facility, raising $646.6 million at an average issue price of $8.70 per share and deploying $773.4 million to accumulate roughly 16.5 million HYPE tokens at an average cost of $46.77.