Strategy reported a net loss of $12.54 billion in its Q1 earnings report and holds approximately 818,000 Bitcoins.

According to Mars Finance, Strategy released its Q1 2026 financial report. As of May 3, 2026, Strategy held 818,334 Bitcoins, a 22% increase year-to-date, achieving a Bitcoin yield of 9.4%, with a Bitcoin USD value of approximately $4.97 billion due to the increased holdings. The company has raised over $11.6 billion through its market capitalization offering program and digital lending product STRC. STRC itself has grown by 189% since the beginning of the year, raising a total of $5.58 billion, reaching a market capitalization of $8.5 billion within nine months, becoming the world's largest preferred stock by market capitalization. STRC's average daily trading volume is $375 million, with a volatility of only 3% and a Sharpe ratio of 2.53. It is already held by multiple corporate treasuries and decentralized finance protocols. Q1 total revenue was $124.3 million, a year-on-year increase of 11.9%, with a gross profit of $83.4 million and a gross margin of 67.1%. However, due to the sharp decline in Bitcoin prices during the period, the company recorded an unrealized loss of $14.46 billion in digital assets, resulting in an operating loss of $14.47 billion and a net loss of $12.54 billion, or a diluted loss per share of $38.25. The company's cash reserves were $2.21 billion, slightly lower than at the beginning of the year. Strategy will continue its Bitcoin treasury strategy, planning to increase the frequency of STRC dividend payments to once every two weeks to enhance liquidity. Future dividends are expected to be treated as tax-free capital returns. Key performance indicators used by the company, such as Bitcoin yield and the Bitcoin dollar value gained due to increased quantity, are designed to measure the accrual effect of each Bitcoin share held, but these indicators do not reflect changes in the fair value of digital assets. It is important to note that if convertible debt matures and is not converted into stock in the future, the company may be forced to sell Bitcoin or common stock to repay the debt; this is not an intention to actively seek profit-taking. Strategy management stated that despite the bear market in Bitcoin, traditional financial institutions are still accelerating their deployments.