Strive books a $509 million quarterly profit on paper bitcoin gains and now holds 43,124 coins, 876 short of second place, The Block says

Strive has turned a quarter of bitcoin buying into a large paper profit. The Dallas company reported GAAP net income of $509.0 million for the three months to September 30, driven by a $533.7 million net unrealized gain on its digital assets, with revenue of only $2.7 million from investment advisory fees and the medical device business it picked up when it took over Semler Scientific in January, The Block reported. Diluted earnings were $5.24 a share. Over nine months the company still shows a net loss of $14.5 million.

The buying has accelerated. Strive added 8,136 bitcoin in the third quarter and 15,124 between October 1 and 30, and its holdings of 43,124 coins are worth roughly $3.25 billion, The Block reported, placing it fourth among publicly listed bitcoin treasury companies behind Strategy, Metaplanet and Twenty One and 876 coins short of second place. Strive measures itself by "bitcoin yield," the growth in its bitcoin relative to its outstanding shares, and reported 18.5% for the quarter and 63.2% for the year to date.

The money came from preferred stock. A registered offering of 7,000,000 SATS shares on October 20 brought in about $609.0 million net, and The Block says the company later launched a $1 billion program to sell more. Strive held $490.4 million in cash on October 30 and $50.1 million of Strategy's STRC preferred shares. Chairman and CEO Matthew Cole said the company has been "delivering a strong bitcoin yield year to date in 2026." Its shares fell about 2% to $20.20 in early Friday trading and are down more than 31% over 30 days, a period in which bitcoin fell roughly 12%, The Block reported.