Strategy reports record $20.91 billion operating income for Q3 2026

What sources claim

• Strategy reported $20.91 billion in operating income for the third quarter of 2026, described by Chief Financial Officer Andrew Kang as the largest in the company's history.
• Strategy held 848,517 bitcoin worth $68.9 billion as of October 23, with an average cost of $75,446 per coin, after increasing holdings 26% year-to-date.
• Total revenue fell 3% from a year earlier to $125.4 million, while BTC yield stood at negative 3.7% for the year and the company sold roughly $431.8 million of bitcoin to fund preferred dividends and buybacks.

Still unresolved

• What portion of the $20.91 billion operating income came from bitcoin mark-to-market gains versus operations, pending the full financial filing?
• Will Strategy detail a plan to reverse the negative 3.7% BTC yield in its next quarterly disclosure or investor call?

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