Strive posts $474.8 million common net income as bitcoin yield hits 63.2%
GAAP net income reached $509 million, driven by a $533.7 million unrealised bitcoin gain, while operating revenue stayed at $2.7 million.
Key takeaways
- 1$474.8 million common net income reported for Q3 2026
- 2Bitcoin yield of 63.2% year-to-date as of 30 September
- 3Unrealised bitcoin gain of $533.7 million drove earnings
- 4Preferred offering raised about $609 million on 20 Oct
- 5Holding of 43,124 bitcoin by 30 Oct
Strive (ASST) reported $474.8 million of net income attributable to common shareholders for the third quarter ended 30 September, alongside a year-to-date bitcoin yield of 63.2%, on Friday, Bitcoin Magazine said.
GAAP net income for the quarter was $509.0 million, or $5.24 per fully diluted share. Almost all of the profit came from a $533.7 million unrealised gain on digital assets marked to fair value; operating revenue was only $2.7 million, indicating the earnings line is a treasury mark rather than a fee-based business.
The firm defined bitcoin yield as the percentage change in bitcoin per share. It bought 8,136 bitcoin in the quarter at an average cost of about $78,885 and held 28,000 bitcoin on 30 September, rising to 43,124 by 30 October after a further 15,124 coins were added. Bitcoin’s price was $75,653 at the time, down 2.3% in 24 hours, according to YourKhabri’s data.
Financing came mainly from perpetual preferreds. On 20 October Strive closed a registered offering of 7 million shares of its 15% Series A perpetual preferred (SATS) for roughly $609 million. Preferred dividends of $34.2 million turned the $509 million GAAP profit into the $474.8 million common figure. The capital stack is heavily weighted toward these preferred instruments.
Shares closed at $20.59 on Thursday, down about 10% on the day and trading near $20.70 on Friday, roughly 29% below the level a year earlier. The stock has risen about 70% from its January close, while bitcoin fell roughly 7% over the same period, showing a wide gap between the company’s return methodology and the underlying asset’s performance.
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