Strategy (Nasdaq: MSTR), the company that holds more bitcoin than any other, reported its third-quarter 2026 results on Thursday, October 29, after the US stock market closed. It made a profit of $19.5 billion, and the company called its operating income the largest in its history. But almost all of it came from the higher price of the bitcoin it owns. In the same filing, Strategy said its chief financial officer, Andrew Kang, is resigning.
The quarter in numbers
For the three months to September 30, 2026, compared with the same quarter of 2025:
- Net income: $19.53 billion, up from $2.79 billion.
- Earnings per share (diluted): $44.75, up from $8.42.
- Gain on its bitcoin: $20.91 billion, up from $3.89 billion. This is a gain on paper: it comes from bitcoin’s higher price, not from selling coins.
- Revenue from its software business: $125.4 million, down 3% from $128.7 million.
- Dividends on its preferred shares: $419.6 million, up from $139.9 million.
How much bitcoin it has
As of October 25, Strategy held about 848,517 bitcoins, 26% more than at the start of 2026. It paid $64.02 billion for them in total, an average of about $75,446 per coin. At the price it used for the report, $81,200 on October 23, they were worth about $68.9 billion. Bitcoin has fallen since then, after the large hack at the Binance exchange.
This year Strategy has bought $14.33 billion of bitcoin and raised $21.23 billion from investors. It has also sold about $431.8 million of bitcoin, which its board allows it to do to pay dividends and interest.
The finance chief is leaving
Andrew Kang told the company on October 26 that he would resign for personal reasons, effective November 5, 2026. Strategy said the decision was not caused by any disagreement with the company. Until the end of the year, chief executive Phong Le will also oversee the finance team. From January 1, 2027, Reza Virasteh, now in charge of operations, becomes the new chief financial officer.
Daily dividends
Holders of Strategy’s four preferred shares (STRC, STRF, STRK and STRD) voted on October 28 to switch to daily dividends, earned every calendar day, including weekends. This starts on November 1, 2026 for STRC and on January 1, 2027 for the other three. Strategy also said it has bought back $2.04 billion of its STRC shares this year to support their price.
Why it matters
Strategy is the biggest company betting its future on bitcoin, so its results move with the bitcoin price. The record profit shows what a rising price does to its books, but the same accounting turns into large losses when bitcoin falls, as it has in recent days. The departure of the person in charge of its money, at a time when it pays large dividends to investors, is something many of its shareholders will watch closely.
This article is for information only and is not financial advice.
