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Strive posts about $509 million Q3 profit on bitcoin paper gains as holdings climb past 43,000 BTC
Summary
Bitcoin treasury company Strive reported about $509 million in third-quarter GAAP net income on Friday, almost entirely from unrealized bitcoin gains marked to fair value, The Block and Bitcoin Magazine reported.
Both outlets said unrealized digital-asset gains topped $533.7 million and diluted EPS was $5.24, while operating revenue was only about $2.7 million; Bitcoin Magazine said preferred dividends of $34.2 million cut net income attributable to common stockholders to $474.8 million.
The Block said Strive bought 8,136 BTC in the quarter to end September with 28,000 BTC, then added another 15,124 BTC in October to reach 43,124 BTC worth roughly $3.25 billion, ranking fourth among public corporate bitcoin treasuries behind Strategy, Metaplanet and Twenty One, and needing about 876 more BTC for the No. 2 spot.
Bitcoin Magazine cited Strive's claimed 18.5% quarterly "bitcoin yield" (bitcoin per share growth) and a year-to-date bitcoin yield of 63.2% through Sept. 30; The Block said ASST still fell about 2% Friday morning and more than 31% over 30 days even as cash stood near $490.4 million at end-October.
Updates
- Update, : Update (Nov. 6 noon): Cointelegraph also reported Strive's October purchase of 15,124 BTC that lifted holdings past 43,000 BTC and narrowed the gap with larger public corporate treasuries, aligning with The Block's earlier Q3/October holdings figures.
Key facts
- The Block / Bitcoin Magazine: GAAP Q3 net income about $509 million, or $5.24 diluted EPS, driven by roughly $533.7 million in unrealized bitcoin/digital-asset gains; operating revenue about $2.7 million.
- Bitcoin Magazine: net income attributable to common stockholders was $474.8 million after $34.2 million in preferred dividends.
- The Block: holdings rose from 28,000 BTC at Sept. 30 to 43,124 BTC by end-October after an October add of 15,124 BTC; cash about $490.4 million.
- Bitcoin Magazine: Strive acquired 8,136 bitcoin in Q3 at an average cost of about $78,885 and reported an 18.5% Q3 bitcoin yield.
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