- Hyperion DeFi reported a record $31 million in Q2 profit, more than triple the previous quarter.
- The value of its HYPE holdings nearly doubled from $71 million to $133 million.
- Hyperion held around 2 million HYPE tokens at the end of Q2.
- The company is also using HYPE to support new projects and markets on Hyperliquid.
- Hyperion shares rose around 5% after hours following the results.
Hyperliquid-focused treasury company Hyperion DeFi reported another record quarter, with net income reaching $31 million in Q2.
That is more than three times the $8.8 million profit recorded in the previous quarter.
A major contributor to the improvement was the rising value of Hyperion's HYPE holdings.
The company's HYPE holdings increased in value from around $71 million at the end of Q1 to $133 million at the end of Q2.
This is the second straight quarter in which Hyperion has posted record profits. A year earlier, the company reported a loss of nearly $9 million.
Hyperion is doing more than just holding HYPE
Hyperion is also using its HYPE holdings to support the growing Hyperliquid ecosystem.
The company recently partnered with Entropy, an HIP-3 deployer, committing to stake 500,000 HYPE.
It also committed another 500,000 HYPE to Skew Technologies to support planned HIP-4 outcome markets.
These agreements provide projects with the HYPE tokens they need to launch decentralized markets on Hyperliquid.
Hyperion said it previously ended agreements with Native Markets and Felix after the USDH stablecoin was discontinued. This freed up around 800,000 HYPE that can now be used elsewhere.
At the end of Q2, Hyperion held around 2 million HYPE tokens.
The strong results come at a time when many crypto treasury companies are struggling because falling token prices have reduced the value of their holdings.
Hyperion has so far bucked that trend, helped by the performance of HYPE and its growing business activity across the Hyperliquid ecosystem.
The company's shares rose around 5% in after-hours trading following the earnings report.
