Strategy Reports $8.33B Loss as Bitcoin Holdings Plummet

Strategy, a company known for its large Bitcoin holdings, reported an $8.33 billion operating loss in the second quarter due to a sharp decline in the value of its digital assets.

The loss was largely driven by a 27% drop in Bitcoin's price this year, which reduced the value of Strategy's 843,775 BTC from $63.69 billion to $54.77 billion.

This resulted in an unrealized loss of $8.32 billion on digital assets, compared to an $8.22 billion net loss for the company.