Strategy Reports Record Q3 Net Income Driven by Bitcoin Price Gains Amid Declining Bitcoin Per Share
Strategy reported a significant third-quarter net income of $19.53 billion, up from $2.79 billion the previous year. However, this surge was almost entirely driven by a $20.91 billion gain on digital assets resulting from rising bitcoin prices rather than improvements in its core software business, which saw revenue decline by 3% to $125.4 million. Despite the record profits, the company's 'BTC Yield'—the amount of bitcoin held per share—has fallen by 3.7% year-to-date because share issuance has outpaced bitcoin accumulation. Additionally, the company has been selling bitcoin to fund $2 billion in preferred stock buybacks and dividend payments, a shift from its primary strategy of accumulating the digital asset.
Topics: bitcoin digital assets earnings report net income share dilution
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