Hyperliquid Treasury Firms Lead DAT Group With $1.1B Unrealized Gains as Strategy, Bitmine Post Losses

Hyperliquid treasury firms are the only major DAT group still showing meaningful unrealized gains, led by Hyperliquid Strategies with more than $1.1 billion in paper profit. According to NS3.AI, Artemis data indicates other major DAT groups are posting large unrealized losses. SaylorTracker data shows Strategy has more than $12.8 billion in unrealized losses on its Bitcoin holdings. Artemis also estimates Bitmine has roughly $10.5 billion in unrealized losses on its Ethereum holdings.