The HYPE treasury company increased its share repurchase authorization as its stock and Hyperliquid's native token underperformed Bitcoin in October.
Hyperliquid Strategies Inc. (NASDAQ: PURR) has increased its stock repurchase program from $30 million to $100 million, expanding its authorization as shares of the HYPE treasury company have declined more than 30% from their October high.
The company said Friday that approximately $72 million remains available under the expanded program, while its board extended the authorization’s expiration date from December 5, 2026, to October 31, 2027.
Hyperliquid Strategies said the increase reflects its board’s confidence in the company’s long term capital strategy and provides additional flexibility to repurchase shares as part of its treasury management operations.
Repurchases may be conducted through open market purchases, privately negotiated transactions or other methods permitted under federal securities laws.
The company said the timing and size of purchases will depend on market conditions, share prices and regulatory requirements. The authorization does not guarantee that the remaining funds will be used, and the program may be suspended or discontinued.
The announcement comes as Hyperliquid Strategies and HYPE, the native token of the Hyperliquid blockchain, have experienced steeper declines than Bitcoin this month.
PURR shares traded near $8.80 on Friday, down approximately 33% from an October 5 high of $13.05, according to historical market data.
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HYPE has also declined more than 18% from its October high near $95, trading around $77 despite Bitcoin remaining relatively stable over the same period.
Bitcoin, meanwhile, has traded largely between $80,000 and $87,000 during October, declining approximately 6% from its monthly high near $87,000.
The comparison highlights the relative weakness of HYPE and PURR, with the company’s shares recording a considerably larger decline than both the underlying token and Bitcoin.
Hyperliquid Strategies operates as a digital asset treasury company focused on accumulating HYPE and providing investors with exposure to the Hyperliquid ecosystem.
Its strategy involves generating returns through HYPE staking, yield optimization and active participation in the network, rather than relying exclusively on changes in the token’s market price.
The company describes itself as the largest digital asset treasury vehicle focused on HYPE, targeting US and institutional investors seeking exposure to the blockchain’s growth.
The expanded repurchase authorization gives Hyperliquid Strategies additional flexibility to buy back shares during the market downturn, although the company has not committed to a specific repurchase schedule.