Strive reports $474.8 million net income as bitcoin yield reaches 63.2%
Strive reports strong third-quarter profit
Strive reported $474.8 million in net income attributable to common stockholders for the third quarter ended Sept. 30.
GAAP net income was $509.0 million, or $5.24 a share on a fully diluted basis. Almost all of that came from a $533.7 million unrealized gain on digital assets marked to fair value. Operating revenue for the quarter was $2.7 million.
Key numbers from the quarter
- Year-to-date bitcoin yield of 63.2% through Sept. 30
- Class A total return outperformed bitcoin by 103.7% year to date through Sept. 30, based on the company claim
- Bitcoin dollar gain of $9.00 per assumed diluted share outstanding through Sept. 30
- Bitcoin yield of 18.5% in the third quarter and 19.3% from Oct. 1 through Oct. 30
- 8,136 bitcoin acquired in the third quarter at an average cost of about $78,885
- Holdings of 28,000 bitcoin on Sept. 30 and 43,124 on Oct. 30
- Digital assets at fair value of $2.34 billion on Sept. 30
What Strive said about the result
Strive defines bitcoin yield as the percentage change in bitcoin per share over a period. It is not a cash yield.
Chairman and CEO Matthew Cole said the company continued to execute its treasury management strategy. He linked the strong bitcoin yield year to date in 2026 to the common equity outperformance relative to bitcoin so far this year.
Cole also said the recent SATS issuance leaves Strive in a position to generate long-term returns in excess of bitcoin for common equity shareholders.
How the bitcoin buys were funded
Strive acquired 20,373 bitcoin over the nine months ended Sept. 30. Another 15,124 coins followed between Oct. 1 and Oct. 30.
On Oct. 20, Strive closed a registered offering of 7 million shares of its 15% Series A perpetual preferred, called SATS, for about $609 million in net proceeds. Preferred stock is a type of share that generally gets paid dividends before common shares.
Preferred dividends of $34.2 million in the quarter turned the $509.0 million GAAP profit into the $474.8 million common figure.
Cash had risen to $490.4 million by Oct. 30. Strive still held Strategy’s variable-rate STRC preferred with a fair value of about $50.1 million.
Profit in the quarter, loss over nine months
For the nine months ended Sept. 30, Strive posted a net loss attributable to common stockholders of $88.4 million.
The third-quarter profit was concentrated in one mark-to-market line, the unrealized gain on digital assets.
What ASST shares did
ASST shares closed at $20.59 on Thursday, down about 10% on the day. The shares traded near $20.70 early Friday, based on Yahoo Finance data cited in the source.
That level was about 29% below where the stock closed a year earlier, near $29. It was also about 33% below its Oct. 21 local high of $30.75. The 52-week range was $7.02 to $34.40.
Year to date, the stock moved from a Jan. 2 close near $17.30 into the mid-$20s, a gain of roughly 20%. Through Sept. 30, ASST had risen about 70% from that January close while bitcoin was down roughly 7% over the same window, based on Yahoo Finance data.
The longer chart includes 2025, when Asset Entities became the public shell for Strive’s bitcoin-treasury reverse merger. The share price spiked into triple digits on weekly closes before collapsing, according to the source.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.