Strategy reports record third quarter operating income on bitcoin gain

Strategy reported a record operating income of 20.91 billion dollars for the third quarter of 2026, Bitcoin Magazine Markets and The Defiant both reported. Bitcoin Magazine Markets added that net income reached 19.53 billion dollars, or 44.75 dollars per diluted share, up from 2.79 billion dollars a year earlier. Chief Financial Officer Andrew Kang also announced his departure in the same filing, according to Bitcoin Magazine Markets. [1][2]

The increase in operating income was primarily generated by paper gains on the company's bitcoin holdings, Bitcoin Magazine Markets reported. However, the company faced falling revenue, a negative year-to-date bitcoin yield, and ongoing demands to service preferred dividends, according to the outlet. The Defiant reported that preferred dividends absorbed 419.6 million dollars during the third quarter. [1][2]

The company spent 2.04 billion dollars repurchasing its STRC preferred stock through October 25, according to The Defiant. CryptoSlate reported that STRC preferred stock closed eight cents below its 100 dollar stated value. Executive Chairman Michael Saylor stated that preliminary voting results from October 28 showed 99.3 percent of votes supported an amendment allowing four US-listed preferred securities, STRC, STRF, STRK, and STRD, to accrue dividends on every calendar day, CryptoSlate reported. [2][3]

As FTMQ Crypto reported earlier, global index provider MSCI adopted rules that exclude non-operating companies from its benchmarks, which places major corporate cryptocurrency holders like Strategy at risk of removal. MSCI is scheduled to announce the final list of excluded companies on November 11, FTMQ Crypto previously reported. [11]