Bitcoin treasury company Strive reported a $509 million profit for the third quarter, and most of it came from paper gains on the bitcoin it holds. It kept buying bitcoin.
The gains are unrealized, which means the company has not sold the bitcoin to lock them in. If bitcoin’s price drops, the same accounting can turn a profit into a loss, so investors in the stock are exposed to bitcoin’s swings.
What the company reported
Strive’s third-quarter results show net income of $509.0 million under standard accounting rules (GAAP), or $5.24 a share on a fully diluted basis. Of that, $533.7 million was unrealized gains on bitcoin. Revenue was $2.696 million.
For the first nine months of 2026, Strive still has a GAAP net loss of $14.477 million.
Buying and funding
Strive bought 8,136 bitcoin in the third quarter and another 15,124 bitcoin from Oct. 1 to Oct. 30. As of Oct. 30 it had $490.4 million in cash and cash equivalents.
On Oct. 20 the company completed an offering of its SATS preferred stock, which carries a 15% annual dividend, raising net proceeds of about $609 million.
The company said it is evaluating other ways to use its balance sheet, including banking, brokerage and decentralized finance. These are options under review, not products it has launched.
JBizNews Desk | Dallas
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