ASST: revenue $2.9M, net income -$257.6M. ASST pivots to bitcoin treasury via Semler merger; unrealized loss drives operating loss

Filed August 10, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 5, 2025 · ~2 min read

Key Changes

• high

  Operating loss widened 6899% to -$258.2M as the company recorded a $523.8M unrealized loss on 19,864 bitcoin holdings (fair value $1.2B) during the six-month period, reflecting mark-to-market accounting for digital assets.

  MD&A: Unrealized Bitcoin Loss verify on EDGAR →
• high

  Company transformed from Discord-server operator to bitcoin treasury company via Semler Scientific merger, adopting bitcoin as its hurdle rate for capital allocation and introducing three operating segments: Asset Management, Medical Device, and Corporate & Other (bitcoin operations).

  MD&A: Business Model Transformation verify on EDGAR →
• high

  Raised $557M in Q2 2026 through at-the-market programs: $211.3M from Class A common stock and $345.7M from newly introduced SATA Stock (perpetual preferred equity paying 13.00% annual dividends), with $2.1B remaining available under each program.

  MD&A: Capital Markets Activity verify on EDGAR →