Strategy Inc's first quarter 2026 results show a $12.5B GAAP loss from bitcoin valuation while total BTC holdings grew to 818,334.

Strategy Inc. reported first quarter 2026 revenues of $124.3 million, up 11.9% year-over-year, and a diluted net loss per share of $38.25. The net loss was primarily driven by a $14.46 billion unrealized loss on its digital assets under new fair value accounting rules, which overshadowed a beat on revenue estimates.

Key Highlights

• The company's bitcoin holdings increased to 818,334 as of May 3, 2026, marking a 22% growth since the beginning of the year.
• A significant GAAP net loss of $12.5 billion for the quarter was reported, which includes the $14.46 billion unrealized, non-cash loss on the company's bitcoin holdings.
• The company achieved a year-to-date BTC Yield of 9.4%, a proprietary metric measuring the accretive growth of bitcoin per share, significantly higher than the 2.5% analysts had anticipated for the quarter.
• Strategy raised approximately $7.37 billion in aggregate gross proceeds from its at-the-market offerings during the first quarter to fund operations and further bitcoin acquisitions.