Cypherpunk Q2 Financial Report: Net Profit of $39.39 million, ZEC Holdings Unrealized Gain of $46 million

August 12th, ZEC Treasury Company Cypherpunk Technologies (Nasdaq: CYPH) released its second quarter 2026 financial report, with a net profit of $39.39 million, diluted earnings per share of $0.18, compared to a net loss of $16.64 million in the same period last year; operating loss of $4.69 million; R&D expenses of $0.2 million, a significant decrease from $10.54 million in the same period last year, mainly due to the completion of clinical trials; general and administrative expenses of $4.49 million, an increase of $2.75 million year-on-year, mainly due to the increase in stock-based compensation. As of June 30, cash balance was $7.6 million.

Regarding ZEC holdings, the second quarter saw ZEC's price rise from $243.35 to $400.09, bringing in a non-cash gain of $46 million, the main source of profit for the quarter. As of August 11, 2026, the company held a total of 323,394.38 ZEC, with an average price of approximately $341.83, accounting for about 1.92% of the total circulating supply of ZEC, with a holding market value of approximately $129 million.

On the business front, the company appointed Valar Group founder Dev Ojha as an advisor. Valar Group is a team focused on Zcash network development and research, leading the development of high-performance full-node software Zakura and the Ironwood shielded pool. Subsidiary Leap Therapeutics reached an agreement with the U.S. FDA on the Phase III clinical trial design of sirexatamab (DKK1 monoclonal antibody) and received FDA Fast Track designation in May 2026 for the treatment of second-line metastatic colorectal cancer patients with high DKK1 expression; the company also initiated a strategic review process to evaluate the optimal path for advancing sirexatamab's development through independent financing or collaboration.