Strategy · Bitcoin · Bitcoin Magazine
Strategy (MSTR) Posts Record Operating Income as Bitcoin Rebounds in Q3 2026
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Strategy reported record $20.91 billion in Q3 2026 operating income, driven by Bitcoin’s rebound, despite declining revenue, negative year-to-date BTC yield, and continued pressure to fund preferred dividends.
Key facts
- The company’s dollar reserves now total $5.07 billion, made up of a $4.83 billion USD Reserve and $242.4 million of USD Cash
- It repurchased 20,980,508 shares of STRC for $2.04 billion at an average of $97.39 per share, a discount to the $100 stated amount
- Net income reached $19.53 billion, or $44.75 per diluted share, up from $2.79 billion a year earlier
- The company’s 848,517 bitcoin were worth $68.9 billion as of October 23, when the token traded at $81,200
Summary
Strategy posted the largest operating income in its history on Thursday, booking $20.91 billion for the third quarter of 2026. Net income reached $19.53 billion, or $44.75 per diluted share, up from $2.79 billion a year earlier. Chief Financial Officer Andrew Kang, who announced his departure in the same release, framed the result plainly: “Q3 operating income of $21 billion was the largest ever in Strategy’s history.” Strategy marks its bitcoin to market each quarter, so every price move flows into earnings.