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.