Strategy posts $8.3 billion operating loss as Bitcoin falls 27% year to date

Strategy reported an $8.33 billion operating loss for the second quarter as Bitcoin’s roughly 27% decline this year produced a substantial unrealized loss on the company’s digital asset holdings. Bitcoin was trading near $64,700 following the earnings announcement, compared with approximately $88,400 at the end of 2025. The company recorded an $8.32 billion unrealized loss on its digital assets during the quarter. A year earlier, Strategy reported a $14.05 billion unrealized gain. Strategy posted a net loss of $8.22 billion, or $24.45 per diluted common share, compared with net income of $10.02 billion, or $32.60 per share, in the same period last year. Shares were mostly flat in after hours trading following the results. Strategy held 843,775 Bitcoin as of July 26, representing a 25% increase in its holdings since the beginning of the year. The Bitcoin had an original cost of $63.69 billion and a market value of $54.77 billion. Its average purchase price stood at approximately $75,476 per Bitcoin, leaving its holdings valued below their aggregate acquisition cost. The company reported quarterly revenue of $122.4 million, up 6.9% from $114.5 million a year earlier. Gross profit rea...