ZeroStack’s $163M 0G Treasury Drops to $15M; Stakes Rewards

ZeroStack’s Form 10-Q for the quarter ended June 30, filed July 31, shows its digital-asset treasury carried a $163.4 million cost basis and a $15.2 million fair value at June 30. The filing reports $2.6 million in cash and negative working capital of $600,000.

The company recorded a $61.3 million net loss for the first half of 2026 and an $82.5 million non-cash loss from remeasuring digital assets to fair value. ZeroStack reported a $339.1 million accumulated deficit as of June 30.

At June 30 the company held 75.1 million 0G tokens with a recorded cost of $163.33 million and a fair value of $15.17 million. Including a small Bitcoin position, total digital assets had a $163.43 million cost basis and a $15.21 million fair value.

ZeroStack reported earning 6.62 million 0G tokens through staking in the first half, which produced $3.78 million in digital-asset revenue after validator fees. The company sold 4.94 million tokens from its rewards wallet for $2.4 million in proceeds and used $2.47 million in cash for operating activities over the same period.

The filing states management expects to fund operations primarily by monetizing staking rewards and may sell some underlying token holdings if necessary. It notes staked tokens remain in company wallets and can be withdrawn, but withdrawal is not the same as immediate cash availability. The filing warns rewards can decline or disappear and that any sales depend on token prices and market liquidity. The filing states management could not conclude its plans would alleviate substantial doubt about the company’s ability to continue as a going concern for the next 12 months.

A subsequent-events note discloses that after acquiring Texas Blocker, which closed July 20, ZeroStack received 147,990,763 tokens and reported total holdings of 223,773,990 tokens valued at about $40.5 million using the July 27 closing price. The filing records a 5,757,815-token difference between earlier contributed amounts and acquired counts; Texas Blocker had permission to stake holdings before the acquisition closed, and the filing does not attribute the entire difference solely to staking rewards.

The transaction included related-party ties: Texas Blocker was formed by ZeroStack CEO Daniel Reis-Faria and CFO Dany Vaiman, Zero Gravity Labs owned 51% of Texas Blocker as of June 30, and ZeroStack Executive Chairman Michael Heinrich was CEO of Zero Gravity when the deal closed.

Market data in the filing shows the 0G token traded near $0.15 on Aug. 1, with roughly $6.8 million to $7.5 million in 24-hour trading volume. The company’s disclosures identify staking-reward sales as central to its liquidity plan but do not establish a confirmed 12-month funding runway.