Strategy’s $20.91 billion digital-asset gain matched its third-quarter operating income, while BTC Yield registered negative 3.7% for the year to date through Oct. 25.
Strategy recorded $19.53 billion in net income for the quarter ending Sept. 30; one year earlier, net income was $2.79 billion. Operating income came to $20.91 billion, matching the digital-asset gain. Revenue came in at $125.4 million, 3% below $128.7 million a year earlier.
Strategy held 848,517 Bitcoin (BTC) on Oct. 25, 26% more than at the start of the year. An Oct. 19 filing reported the same balance as of Oct. 18, as earlier coverage of Strategy’s share-funded Bitcoin purchase noted.
Strategy’s BTC Yield compares its Bitcoin holdings with an assumed diluted share count to track how the amount attributed to each share changes. The measure is separate from the total BTC balance and does not show the return earned by MSTR investors.
Strategy sold about $431.8 million worth of Bitcoin in 2026; some proceeds went toward preferred-dividend payments and STRC repurchases. Its year-to-date repurchases comprised 20,980,508 STRC shares, costing about $2.04 billion at an average of $97.39 each. On Oct. 25, the annualized dividend rate for STRC stood at 12%.
Preferred-stock dividends totaled $419.6 million in the quarter ended Sept. 30. Payments across all preferred stock had accumulated to $1.48 billion. Strategy estimated that its $5.07 billion in USD assets on Oct. 25 could meet preferred dividends and interest for 3.4 years at rates then in effect.
Strategy netted $5.4077 billion from MSTR share sales under its at-the-market program in the third quarter. Strategy Executive Chairman Michael Saylor said Oct. 29, “We’re at the beginning of the next bitcoin bull market.”
