A $148 million gap in the treasury
As of June 30, ZeroStack held 75.1 million 0G tokens. The recorded cost was $163.33 million; the fair value was $15.17 million. That $148 million gap is an accounting loss from remeasuring digital assets at fair value, not a realized cash loss. Still, the company reported just $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. The remeasurement loss alone was $82.5 million.
Translation:Kesenjangan $148 juta dalam treasury
Pada 30 Juni, ZeroStack memegang 75,1 juta token 0G. Biaya tercatat adalah $163,33 juta; nilai wajar adalah $15,17 juta. Kesenjangan $148 juta tersebut adalah kerugian akuntansi dari pengukuran kembali aset digital pada nilai wajar, bukan kerugian kas yang direalisasi. Namun, perusahaan melaporkan hanya $2,6 juta kas, modal kerja negatif sebesar $600.000, defisit akumulasi $339,1 juta, dan rugi bersih $61,3 juta untuk paruh pertama 2026. Kerugian pengukuran kembali saja mencapai $82,5 juta.
Note: "gap" we used "kesenjangan", "recorded cost" - "biaya tercatat", "fair value" - "nilai wajar", "remeasuring" - "pengukuran kembali", "realized cash loss" - "kerugian kas yang direalisasi", "negative working capital" - "modal kerja negatif", "accumulated deficit" - "defisit akumulasi", "net loss" - "rugi bersih", "first half" - "paruh pertama". We used "paruh pertama" for H1. Next:Staking rewards as a funding plan
ZeroStack expects to keep operating mainly by selling the 0G tokens it earns through staking. During the first half of 2026, it recognized $3.78 million in digital-asset revenue from 6.62 million 0G tokens earned via staking, net of validator commissions. It sold 4.94 million tokens from its rewards wallet for $2.4 million in proceeds. Over the same period, it used $2.47 million in cash for operating activities. That means staking sales roughly covered cash burn, but the company’s overall cash position remains thin.
Translation:Imbalan staking sebagai rencana pendanaan
ZeroStack berharap untuk terus beroperasi terutama dengan menjual token 0G yang diperoleh melalui staking. Selama paruh pertama 2026, mereka mengakui pendapatan aset digital sebesar $3,78 juta dari 6,62 juta token 0G yang diperoleh melalui staking, setelah dikurangi komisi validator. Mereka menjual 4,94 juta token dari dompet imbalan mereka dengan hasil $2,4 juta. Selama periode yang sama, mereka menggunakan $2,47 juta kas untuk aktivitas operasional. Itu berarti penjualan staking secara kasar menutupi pembakaran kas, tetapi posisi kas perusahaan secara keseluruhan tetap tipis.
Note: "recognized" - "mengakui", "digital-asset revenue" - "pendapatan aset digital", "net of validator commissions" - "setelah dikurangi komisi validator", "rewards wallet" - "dompet imbalan", "proceeds" - "hasil", "cash burn" - "pembakaran kas", "thin" - "tipis". Next:The Texas Blocker acquisition and token holdings
In July, ZeroStack acquired Texas Blocker, a company formed by CEO Daniel Reis-Faria and CFO Dany Vaiman. Before the acquisition, Zero Gravity Labs owned 51% of Texas Blocker as of June 30. After the deal, ZeroStack held 223,773,990 0G tokens, valued at about $40.5 million using the July 27 closing price. That’s a much larger position than the 75 million tokens it
