Strategy's Q2 Loss Tops $8B as Bitcoin Trading Near $64K

Bitcoin (BTC) is trading near $63,600 after Strategy, the company chaired by Michael Saylor, reported an $8.33 billion operating loss for the second quarter of 2026. The loss includes an $8.32 billion unrealized loss on its digital assets.

The company's software business generated a modest result, with revenue reaching $122.4 million, up 6.9% from the same period last year.

Strategy continued to expand its Bitcoin treasury during the quarter, increasing its holdings by 11%. The company also reduced convertible debt and strengthened its liquidity position.

The average acquisition cost of Strategy's BTC holdings is $75,476, which helps explain the pressure on the company's reported results. Despite this, Strategy reported a 4.5% BTC Yield year to date and a BTC Gain of 29,997 BTC under its own key performance indicators.

Strategy has established a BTC Monetization Program that allows it to sell Bitcoin opportunistically when market conditions are favorable, using the proceeds to replenish USD reserves and meet shareholder obligations.