This $163M crypto stash collapsed to just $15M, forcing ZeroStack to literally stake its survival on token rewards
ZeroStack, whose digital-asset treasury is overwhelmingly composed of the AI-focused 0G token, said it expects to fund operations mainly by selling staking rewards. Management, however, could not conclude that its plans...
Bitcoin 1 Minute
A notable development has hit the crypto markets. ZeroStack, whose digital-asset treasury is overwhelmingly composed of the AI-focused 0G token, said it expects to fund operations mainly by selling staking rewards. Management, however, could not conclude that its plans would alleviate substantial doubt about the company's ability to continue as a going concern. The company's Form 10-Q, filed July 31 for the quarter ended June 30, reported $2.
6 million in cash, negative working capital of $600,000, a $339. 1 million accumulated deficit and a $61. 3 million net loss for the first half of 2026.
Market Dynamics
It also recorded an $82. 5 million loss from remeasuring digital assets at fair value. That markdown was an accounting loss, not a realized cash loss.
At June 30, ZeroStack held 75. 1 million 0G tokens with a recorded cost of $163. 33 million and fair value of $15.
Including a small Bitcoin position, total digital assets had a $163. 43 million cost and $15. 21 million fair value.
Market Impact
Those figures are a June 30 snapshot and predate a much larger 0G acquisition that closed in July. Related Reading A $1 billion HYPE treasury bet to hit public markets before knowing how liquidity will hold up A $1 billion stock facility is turning HYPE into a public market treasury trade while the filings warn about liquidity, unlocks, and validator risks still waiting for a real stress test. Jul 9, 2026 Gino Matos Reward sales underpin the liquidity plan ZeroStack recognized $3.
78 million in digital-asset revenue from 6. 62 million 0G tokens earned through staking during the first half, net of 1% or 2% validator commissions. 94 million tokens from its rewards wallet for $2.
4 million in proceeds, while using $2. 47 million in cash for operating activities over the same period. Related Reading BitMine made $46 million staking Ethereum then lost twice that betting on it Staking generated nearly all quarterly revenue as the company issued billions of dollars in stock to finance a treasury sitting $8.
This shift continues to shape the digital-asset landscape, with analysts examining its near-term effects.
