Strategy reports record $20.9B Q3 operating income, CFO to step down
Strategy posted $20.91B Q3 operating income on a bitcoin gain, holds 848,517 BTC, and said CFO Andrew Kang will leave on Nov. 5 ahead of daily dividends.
BITCOINETFS & INSTITUTIONSNEWS
Daniel Hartley
10/29/20261 min read
Strategy, the largest corporate holder of bitcoin, reported operating income of $20.91 billion for the third quarter of 2026 on Thursday, Oct. 29, the biggest quarterly figure in its history, according to the company's results release. The entire amount came from a $20.91 billion gain on its digital assets. Net income reached $19.53 billion, or $44.75 per diluted share, compared with $2.79 billion a year earlier.
Revenue from the legacy software business fell 3% year over year to $125.4 million, short of the $127.17 million analysts had expected, Benzinga reported. The shares dropped 3.51% to $136.65 in extended trading after the release.
As of Oct. 25 the company held 848,517 BTC, up 26% since January, acquired for $64.02 billion, or about $75,446 per coin. It has bought $14.33 billion of bitcoin this year and raised $21.23 billion in capital, yet its own BTC Yield metric stands at minus 3.7% year to date. Strategy also disclosed that it sold about $431.8 million of bitcoin in 2026 to fund preferred dividends and buybacks of its STRC preferred stock.
Leadership change and daily dividends
Chief financial officer Andrew Kang will step down on Nov. 5 and stay on as an adviser until Dec. 31. Chief executive Phong Le will serve as principal financial officer until Reza Virasteh takes over as CFO on Jan. 1, 2027. Shareholders approved daily preferred dividends on Oct. 28: STRC switches on Nov. 1, and STRF, STRK and STRD follow on Jan. 1. Le described the change as a step toward a tokenized financial system that runs around the clock.
Executive chairman Michael Saylor told investors he believes the next bitcoin bull market is beginning, citing bank adoption and bitcoin's growing market dominance. The reported figures predate the latest sell-off, however. Bitcoin fell below $77,000 late on Thursday as the Binance hack rattled markets, leaving the price within roughly 2% of Strategy's average purchase cost.
Source: Strategy, Benzinga, The Block