Hyperion DeFi reported record Q3 2026 net income of $39.6 million, up 28% from the previous quarter and nearly six times higher than a year earlier, while Nasdaq-listed Bit Digital saw its stock slide after Q3 revenue of $27.1 million missed analyst estimates by roughly 16%.
Hyperion sold about $13 million worth of HYPE tokens to repay legacy debt, reducing its treasury to 1.85 million HYPE from 2.04 million. Despite that, the HYPE treasury value climbed 27% to $167.9 million as the token's quarter-end price rose from $65 to $90.80. Net asset value reached $182.4 million. The company eliminated its remaining debt with Avenue Capital and ended September with $14.5 million in cash and stablecoins.
Its DeFi operations generated record quarterly revenue: ecosystem rewards rose to $1.25 million from $90,000, staking income reached $785,000, and DeFi monetization revenue more than doubled to $334,000. CEO Hyunsu Jung said the company achieved its first quarter of breakeven or better core operating profit and cash flows ahead of schedule. Hyperion maintained full-year adjusted gross profit guidance of $7 million to $8 million.
Separately, Bit Digital posted net income of $28.5 million, swinging from a $107.2 million loss in Q2, helped by $16.3 million in digital asset valuation gains. But revenue fell 11% year over year, and bitcoin mining revenue dropped to $2 million as the company winds down mining. WhiteFiber colocation revenue jumped 232% to $5.6 million, while cloud services brought in $18.1 million.
Bit Digital held about 163,726 ETH and Ethereum equivalents valued at $439.4 million on Sept. 30 using an ETH price of $2,684. By Nov. 12 ETH traded near $2,050, implying holdings worth about $336 million, a decline of roughly $103 million due to price action rather than new losses. CEO Sam Tabar said a stock buyback deserves consideration but warned that selling Ether to fund it would reduce staking income.
The reports highlight HYPE's treasury-driven earnings strength and Ether's weight on corporate balance sheets, with Hyperion striking new credit and data-feed partnerships involving DoubleZero, Anchorage Digital and HyperLend.
