Strategy Q3 net income hits $19.5B, up from $2.8B a year ago

Strategy reported third-quarter 2026 results on Oct. 29, with net income of $19.53 billion versus $2.79 billion a year earlier. Nearly all of it came from bitcoin revaluation: the gain on digital assets for the quarter was $20.91 billion. The figures come from the company's 8-K and press release.

Details

Diluted earnings per share were $44.75, compared with $8.42 in Q3 2025. Net income attributable to common stockholders was $19.12 billion after $419.6 million of preferred dividends. Revenue from the software business was $125.4 million, down 3% year over year.

As of Oct. 25, the company held 848,517 BTC, up 26% since the start of the year. Their cost basis is $64.02 billion (about $75,446 per coin on average) and market value $68.90 billion at a bitcoin price of $81,200 on Oct. 23. Strategy has bought $14.33 billion of bitcoin year to date.

On its STRC preferred, the company reports $2.04 billion of repurchases and USD assets growing to $5.07 billion. At Sept. 30 it held $2.50 billion in cash and $3.40 billion in short-term investments. We covered the daily dividend vote separately.

What This Means for the Market

The record profit is a product of fair-value accounting: when bitcoin rises, Strategy's reported earnings jump, and when it falls the company books a loss. So the report mostly reflects BTC's move over the quarter rather than the underlying business. Executive Chairman Michael Saylor said in the release that "we're at the beginning of the next bitcoin bull market" — that is his view, not a fact.

What matters more for the market is the size of the stack: Strategy remains the largest corporate bitcoin holder. For the live price, see the daily brief. This is not investment advice.