Nasdaq-listed crypto treasury firm reports $82.5 million fair-value loss on digital assets and negative working capital.
ZeroStack disclosed substantial doubt about its ability to continue operating after posting an $82.5 million fair-value loss on digital assets for the first half of 2026. The company reported $2.6 million in cash, negative working capital of $600,000, and an accumulated deficit of $339.1 million as of June 30.
The firm’s 75.1 million Zero Gravity (0G) tokens were valued at $15.2 million, down 91% from their recorded cost of $163.3 million. ZeroStack relies on staking rewards and token sales, generating $3.8 million in staking revenue and selling 4.9 million 0G tokens for $2.4 million to fund operations.
ZeroStack reversed its prior going-concern assessment, citing dependence on 0G’s price and liquidity for cash flow. The company’s net loss for the period totaled $61.3 million.