CoreWeave-Linked Hyperliquid Contract Weakens as Trader Opens About $500,000 Short

A CoreWeave-linked CRWV contract on Hyperliquid weakened as Texas counted votes in its governor's race, while trader 0xa290 opened an approximately $500,000 short position in the contract.

Computing-related contracts tied to IREN and CIFR also weakened during the count. Democratic gubernatorial candidate Gina Hinojosa led in reported votes on Nov. 4.

Hinojosa has proposed pausing approvals for new data centers until the state Legislature adopts protections for residents' water, electricity and community interests. She also has proposed ending existing tax breaks for large data centers.

CoreWeave has infrastructure under development in Texas. Galaxy's Helios data-center campus in West Texas has delivered 133 megawatts of critical IT load to CoreWeave. A 260-megawatt second phase is under construction and is expected to begin delivery in the first half of 2027.

Trader 0xa290 opened the short using a 30-minute time-weighted average price order, which executes trades over a set period. The account's position was valued at about $491,400, with an average entry price of $50.28. It used 10x isolated leverage and had a liquidation price of $52.69.