Via crypto.news
The Nasdaq-listed AI treasury firm now holds more in digital assets than its entire market cap suggests, trading at a steep discount to its own balance sheet.
Zerostack Corp. crossed a milestone that most public companies can only dream about, or dread, depending on how you feel about meme tokens: its digital asset holdings hit approximately $1.06 billion as of August 23, 2026.
One very large token purchase #
The bulk of that figure, roughly $1.028 billion, came from a single acquisition on August 19. Zerostack purchased 925,925,926 MemeCore tokens, ticker $M, at $1.08 per token.
The deal was structured as an equity swap with contributors Puple AI Inc. and Blockcat Pte. Ltd. In exchange, Zerostack issued 3.5 million common shares and warrants covering up to approximately 36.2 million additional shares, priced at $25.19 each.
That warrant strike price is worth pausing on. Zerostack’s stock was trading at roughly $4.71 at the time of reporting, meaning the company handed out warrants priced at more than 12 times its actual market price.
Beyond the MemeCore position, Zerostack also holds approximately 223.8 million 0G tokens, valued at around $36 million as of August 23. The company has been staking those 0G tokens to generate rewards that help fund day-to-day operations.
The discount nobody can ignore #
On a partially diluted basis, Zerostack’s digital asset holdings work out to approximately $18.19 per share. The stock was trading at around $4.71, a 74% discount to the implied asset value.
MemeCore makes up roughly 97% of the portfolio by value.
Zerostack’s 0G position has its own history worth noting. As of June 30, 2026, those holdings were carried at a fair value of approximately $15.2 million after markdowns, covering about 75.1 million tokens at the time. The position has since grown substantially to 223.8 million tokens valued at around $36 million.
What Zerostack is actually trying to be #
Zerostack describes itself as a decentralized AI treasury vehicle. The core idea is that rather than holding cash or conventional assets, the company accumulates digital assets tied to AI and decentralized infrastructure, then uses yields and appreciation to fund operations.
Tokens are secured in multi-signature wallets, which requires multiple independent approvals before funds can move.
The approximately 36.2 million additional shares covered by those warrants require shareholder approval before they can be issued.
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