- Strive reported $509 million in third-quarter net income, primarily driven by $533.7 million in unrealized gains from its Bitcoin holdings.
- The company acquired 8,136 BTC during the third quarter and another 15,124 BTC in October, increasing its total treasury to 43,124 BTC worth approximately $3.25 billion.
- Strive reported an 18.5% quarterly Bitcoin yield and raised approximately $609 million through its SATS preferred-stock offering to support its treasury strategy.
Bitcoin treasury company Strive has reported $509 million in net income for the third quarter of 2026, supported by substantial unrealized gains from its cryptocurrency holdings.
According to its latest earnings report, Strive recorded more than $533.7 million in paper gains from Bitcoin during the quarter.
The company also reported diluted earnings of $5.24 per share, while quarterly revenue reached approximately $2.7 million.
Most of that revenue came from investment advisory fees and the medical device business acquired through its takeover of Semler Scientific.
Meanwhile, Strive continued aggressively expanding its Bitcoin reserves, bringing its total holdings to 43,124 BTC.
Strive Bitcoin Holdings Reach 43,124 BTC
Strive acquired 8,136 Bitcoin during the third quarter, increasing its holdings to approximately 28,000 BTC by the end of September.
The company then accelerated its purchases in October, acquiring another 15,124 BTC.
These acquisitions brought Strive’s total Bitcoin treasury to 43,124 BTC, valued at approximately $3.25 billion.
The company now holds the fourth-largest Bitcoin treasury among publicly traded companies, behind Strategy, Metaplanet and Twenty One.
Strive is also approaching the second-largest corporate Bitcoin treasury position.
Based on the reported holdings, the company needs another 876 BTC to reach 44,000 BTC, matching Metaplanet’s reported holdings.
CEO Matt Cole previously suggested that Strive could become the second-largest publicly traded Bitcoin holder before the end of 2026.
The company’s recent purchases have brought it considerably closer to that target, although the rankings could change as competing companies continue accumulating Bitcoin.
Strive Reports 18.5% Quarterly Bitcoin Yield
Alongside its growing treasury, Strive reported an 18.5% Bitcoin yield during the third quarter.
The metric measures changes in Bitcoin holdings relative to the company’s outstanding shares.
It is designed to help investors evaluate whether the company is increasing its Bitcoin exposure on a per-share basis.
“Bitcoin is the hurdle rate at Strive,” Cole wrote on X following the earnings announcement.
According to Cole, growth in Bitcoin per share has been a major factor behind Strive’s stock outperforming Bitcoin by more than 100% this year.
The company has also been expanding its preferred-stock financing strategy through its SATA and SATS securities.
In October, Strive raised approximately $609 million from its SATS preferred-stock offering.
It subsequently introduced another $1 billion program to support potential future SATS share sales.
These financing initiatives could provide additional capital for Bitcoin purchases and other corporate activities.
Strive Maintains Nearly $500 Million Cash Reserve
Strive also reported substantial liquid assets alongside its Bitcoin holdings.
The company held slightly more than $490 million in cash and cash equivalents.
Additionally, it owned approximately $50.1 million in STRC preferred shares issued by Strategy.
These holdings provide financial flexibility as Strive continues expanding its Bitcoin treasury and managing its preferred-stock obligations.
However, the company’s quarterly earnings were largely driven by unrealized Bitcoin gains rather than operating revenue.
This means future reported profits could fluctuate significantly depending on Bitcoin’s market price.
Despite the positive earnings announcement, Strive shares declined approximately 2% to $20.20 during early Friday trading.
ASST has also fallen more than 31% over the past 30 days.
Bitcoin declined approximately 12% during the same period and traded near $75,600.
Investors will now be watching whether Strive continues accumulating Bitcoin and whether its preferred-stock financing strategy can support further growth in Bitcoin holdings per share.
