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Strategy reports Q2 loss as it weighs Bitcoin sales to bolster reserves

Strategy reports Q2 loss as it weighs Bitcoin sales to bolster reserves

The company said unrealized Bitcoin markdowns drove a steep quarterly loss while it held 843,775 BTC, expanded reserve management, launched STRC buybacks and outlined potential crypto sales to support liquidity.

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Fact Check
Every element of the claim is independently corroborated. The odaily newsflash (505167) and the BitcoinTreasuries.NET X post confirm the Q2 2026 earnings call on 2026-07-30 at 5 PM ET. The odaily newsflash (505310) and the Bitcoin News X post both confirm the $17.06 billion raised under the 2026 capital plan, the enlarged $3.75B USD cash reserve covering >2.1 years of dividends/interest, and changes to debt ($1.5B convertible note repurchase), dividend, and Bitcoin treasury management ($218.4M BTC sold, STRC buybacks). BlockBeats corroborates the STRC buyback and earnings timing. Figures are consistent across all sources.
Summary

Strategy reported a second-quarter 2026 net loss of $8.22 billion after an $8.32 billion unrealized digital-asset loss drove an $8.33 billion operating loss, overshadowing modest software-business growth. The company said it held 843,775 BTC as of July 26, with a cost basis of $63.69 billion and a market value of $54.77 billion using a Bitcoin price of $64,915 on July 27, while executives also referred to holdings of about 846,000 BTC in discussing quarter-end growth. Management said holdings grew 11% during the quarter, Bitcoin Per Share rose 5%, year-to-date BTC Yield reached 4.5%, BTC Gain totaled 29,997 coins and BTC Dollar Gain reached $1.95 billion. Strategy said it may seek board authorization to sell up to $1.25 billion of Bitcoin to build its dollar reserve and may also sell BTC to fund preferred dividends, interest, reserve replenishment and buybacks. The disclosure came as Bitcoin fell to a mult-week low and analysts including JPMorgan said higher cash reserves could help restore confidence and reduce investor concerns.

Terms & Concepts
  • unrealized digital-asset loss: An accounting loss reflecting a decline in the market value of held digital assets that has not been locked in through a sale.
  • at-the-market sales: A capital-raising method in which a company sells securities into the open market over time at prevailing prices.
  • capital structure: How a company funds itself through debt and equity.