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Strategy Inc reports $8.22B Q2 loss on bitcoin fair-value decline; holds 843,775 BTC
Filed July 30, 2026 · Period ending July 30, 2026 · ~2 min read
Key Changes
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high
Q2 2026 net loss of $8.22B driven by $8.32B unrealized loss on bitcoin holdings as market price declined; compares to $10.02B net income in Q2 2025 when bitcoin appreciated. Loss reflects fair-value accounting, not operational performance.
Exhibit 99.1 view on EDGAR → -
high
Holds 843,775 bitcoins as of July 26, 2026 (largest institutional holder globally), with average cost basis of $75,476 per bitcoin versus current market value of $64,915, reflecting unrealized loss. Holdings grew 25% year-to-date.
Exhibit 99.1 view on EDGAR → -
high
Raised $17.06B in equity capital year-to-date 2026, including $8.41B in Q2 through at-the-market offerings ($5.47B STRC preferred, $2.95B common stock). STRC issuances grew 254% to $7.53B, funding bitcoin purchases.
Exhibit 99.1 view on EDGAR → -
high
Sold $218.4M of bitcoin year-to-date 2026 to fund preferred stock dividends under new BTC Monetization Program. Maintains $3.75B USD Reserve covering preferred dividends and interest for over 2.1 years. STRC dividend rate increased to 12.00%.
Exhibit 99.1 view on EDGAR → -
medium
Repurchased $1.50B of 2029 convertible notes at 8% discount to par, reducing total convertible debt from $8.21B to $6.71B. Bought back $28.9M of STRC preferred at 13.47% discount to $100 stated value under new $1.0B repurchase program.
Exhibit 99.1 view on EDGAR →
Summary
Strategy Inc reported an $8.22 billion net loss for Q2 2026, driven entirely by an $8.32 billion unrealized loss on its bitcoin holdings as the cryptocurrency's market price declined from the prior year. This compares to a $10.02 billion net income in Q2 2025 when bitcoin appreciated.
The swing reflects fair-value accounting under ASU 2023-08, which requires marking bitcoin holdings to market each quarter—the loss does not indicate operational deterioration but rather bitcoin's price volatility flowing through the income statement. The company continues executing its bitcoin accumulation strategy at scale.
As of July 26, 2026, Strategy holds 843,775 bitcoins (the largest institutional position globally), with an average cost basis of $75,476 per bitcoin versus a current market value of $64,915. The company raised $17.06 billion in equity capital year-to-date, including $8.41 billion in Q2 through at-the-market offerings, to fund bitcoin purchases. Holdings grew 25% year-to-date despite the unrealized loss. Strategy also initiated bitcoin monetization, selling $218.4 million of bitcoin in 2026 to fund preferred stock dividends—the first material sales under its BTC Monetization Program. The company maintains a $3.75 billion USD Reserve covering preferred dividends and interest for over 2.1 years, and increased the STRC dividend rate to 12.00% to support the preferred stock trading near its $100 stated value. The company repurchased $1.50 billion of convertible notes at an 8% discount and bought back $28.9 million of STRC preferred at a 13.47% discount under a new $1.0 billion repurchase program. Retail holders should monitor the company's website dashboard (www.Strategy.com), disclosed as an official Regulation FD channel for bitcoin holdings, KPIs, and material updates.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Strategy Inc discloses its website dashboard as a Regulation FD disclosure channel for bitcoin holdings, KPIs, and market data.
Added in current filing · verify on EDGAR →
The Company also maintains a dashboard on its website (www.Strategy.com) as a disclosure channel for providing broad, non-exclusionary distribution of information regarding the Company to the public, including information regarding market prices of its outstanding securities, bitcoin purchases and holdings, certain KPI metrics and other supplemental information, and as one means of disclosing non-public information in compliance with its disclosure obligations under Regulation FD.
Strategy Inc announces it maintains a public dashboard on its website to disclose information about bitcoin purchases and holdings, security prices, and key performance metrics. This dashboard serves as an official Regulation FD disclosure channel, meaning material information may be released there rather than through traditional SEC filings alone. Investors should monitor this dashboard regularly for updates on the company's bitcoin position and other material developments.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 31, 2026 · How we verify