SAN DIEGO, June 18, 2026 (GLOBE NEWSWIRE) -- Lite Strategy, Inc. (NASDAQ:LITS) ("Lite Strategy" or the "Company"), the first U.S. public company to adopt Litecoin (LTC) as its primary treasury reserve asset, today announced the closing of a $1.0 million lead strategic investment in ZK Innovations Inc., the developer of LitVM, the first zero-knowledge (ZK) Layer 2 platform built on Litecoin.

The investment reflects Lite Strategy's belief that increasing Litecoin's utility and functionality can strengthen the network and increase long-term shareholder value. In addition to the investment, Lite Strategy received governance participation rights and the opportunity to acquire a portion of LitVM's future network tokens, aligning the Company with LitVM's long-term growth and development, while reinforcing Lite Strategy's commitment as an active participant in the ongoing expansion of the Litecoin ecosystem.

"We believe the best way to create shareholder value is not only to own Litecoin, but to help build the infrastructure that expands Litecoin utilization," said Jay File, CEO & CFO of Lite Strategy. "LitVM brings programmability and new use cases to Litecoin for the first time, marking an important step in the network's evolution."

The investment comes as LitVM prepares to launch its mainnet infrastructure, introducing smart contracts and a programmable application layer to the Litecoin ecosystem. The platform is designed to expand Litecoin's role beyond payments by enabling decentralized finance (DeFi), tokenized real-world assets (RWAs), and next-generation financial applications built on Litecoin's trusted and secure monetary foundation.

"Litecoin was built to be fast, efficient, and more accessible than Bitcoin," said Charlie Lee, Creator of Litecoin and a member of Lite Strategy's Board of Directors. "Adding a programmable layer opens the door to new applications, while preserving the security and decentralization that make Litecoin valuable. Investments like this help move the Litecoin ecosystem forward."

Lite Strategy currently holds approximately 850,000 LTC or 1.1% of the total LTC supply currently mined. The Company believes expanding Litecoin's functionality through infrastructure initiatives such as LitVM's ZK Layer 2 platform can increase the overall utility and directly enhance the productivity and potential value of Lite Strategy's core treasury asset.

"Lite Strategy brings deep Litecoin expertise, institutional credibility, and a demonstrated commitment to building hard money infrastructure," said Aztec Amaya, Co-founder of LitVM. "Their active involvement in governance, strategic planning, and ecosystem development will be invaluable as we scale LitVM into the leading Web3 platform for Litecoin."

LitVM is purpose-built to expand what Litecoin can do. Utilizing BitcoinOS and Arbitrum Nitro, it introduces three capabilities that its base layer has historically lacked:

ZK-Rollup Scalability: Thousands of transactions are bundled into a single zero-knowledge proof, enabling high throughput and low fees while preserving the security of the Litecoin Layer 1.
Ethereum Virtual Machine (EVM) Compatibility: LitVM brings EVM to Litecoin and introduces smart contract functionality, tokenized assets, cross-chain liquidity and RWA support to the network. This enables developers to port existing DeFi and RWA applications from Ethereum directly to the Litecoin ecosystem for the first time.
Trustless Bridging: Using ZK-proofs rather than custodial bridges, LTC holders can move native LTC to the Layer 2 to participate in decentralized finance and earn onchain returns while maintaining the security of the underlying asset.

About LitVM / ZK Innovations Inc.

ZK Innovations Inc. is the British Virgin Islands-based developer of LitVM, the first zero-knowledge Layer 2 and virtual machine platform for Litecoin. LitVM's leadership team includes Aztec Amaya (CSO, Lunar Digital Assets), Roc Zacharias (CEO, Lunar Digital Assets; Polygon Grants Board Member), and Edan Yago (CEO & Co-Founder of BitcoinOS; Sovryn Core Contributor). For more information, visit www.litvm.com.

About Lite Strategy, Inc.

Lite Strategy, Inc. (NASDAQ:LITS) is the first U.S. publicly traded company to adopt Litecoin (LTC) as its primary treasury reserve asset. The Company employs an active treasury management strategy including a covered call options program to generate yield on its LTC holdings and create lasting shareholder value. Lite Strategy offers investors regulated, transparent, and actively managed exposure to LTC that no ETF or passive vehicle can replicate. The Company also retains a portfolio of pharmaceutical assets, providing unique strategic optionality independent of digital asset treasury. For more information, visit www.litestrategy.com.

Forward-Looking Statements

Certain information contained in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the potential benefits of the LitVM investment, future DeFi yield opportunities, token network launches, and the Company's strategic direction. Actual results could differ materially from those contained in such forward-looking statements due to risks and uncertainties including, but not limited to, the development status and timing of the LitVM network, regulatory developments affecting digital assets and token issuances, fluctuations in the market price of LTC, the Company's ability to realize returns on strategic investments, and other risk factors detailed in the Company's annual report and filings with the Securities and Exchange Commission. The Company does not intend to update any forward-looking statements.

Contacts:

Investor Relations:

Alliance Advisors IR

Adele Carey

SVP, Investor Relations

investor@litestrategy.com

Public Relations:

Alliance Advisors IR

Aayushi

PR & Media Associate

media@litestrategy.com

Impact3

Casey Wilson

media@litestrategy.com