Strategy Reports $17.4 Billion Q4 Operating Loss Amid Bitcoin Price Correction

Bitcoin Holdings Slip Underwater

Bitcoin treasury firm Strategy reported a staggering operating loss of $17.4 billion in the fourth quarter of 2025, a 17-fold increase from the $1 billion loss recorded during the same period in 2024. The company, applying fair value accounting for the fourth time, stated the figure includes an “unrealized loss on the company’s digital assets of $17.4 billion.” Despite the bottom-line hit, Strategy reported a 1.9% revenue increase, totaling $122.99 million.

The release of Strategy’s Q4 financial results coincided with bitcoin’s plunge to $60,000, a 50% drop from its Oct. 6 peak of more than $126,000. This decline, which accelerated in early February, pushed Strategy’s holdings underwater for the first time. As of 3 a.m. EST, the company’s 713,502 BTC—acquired at a total cost of $54.26 billion—showed an unrealized loss of $7.88 billion. The average purchase price for the total stash stands at $76,052 per coin.

Read more: Bitcoin’s Intraday Price Low Skids to $60K, Volatility Spikes, and Traders Brace for What Comes Next

The company’s financials revealed a net quarterly loss of $12.4 billion, or $42.93 per diluted share, which stands in sharp contrast to the net loss of $670.8 million, or $3.03 per share, seen in Q4 2024. Furthermore, the net loss attributable to common stockholders reached $12.6 billion for the quarter.

Executive Chairman Michael Saylor defended the company’s aggressive accumulation strategy, highlighting its status as the world’s largest corporate bitcoin holder. Saylor stated that Strategy has built a “digital fortress” anchored by its bitcoin holdings and a shift to digital credit, which aligns with an indefinite investment horizon.

“We are also excited about an ecosystem emerging around STRC, which would reinforce
Strategy’s position as the dominant issuer of bitcoin-backed credit,” Saylor added.

For the full year 2025, Strategy reported a BTC yield of 22.8%, falling within its target range of 22% to 26%. The firm added 101,873 BTC to its holdings throughout the year. While the market value of the stash was $59.75 billion on Jan. 30, a sharp market correction on Feb. 5 dragged the total value of Strategy’s holdings down to approximately $46.4 billion.

FAQ ❓

• What loss did Strategy report in Q4 2025? Strategy posted a $17.4B operating loss, up sharply from $1B in Q4 2024.
• How did bitcoin’s price impact Strategy’s holdings? BTC’s drop to $60K pushed its 713,502‑coin stash into a $7.88B unrealized loss.
• What was Strategy’s net loss per share? The firm reported a $12.4B net loss, equal to $42.93 per diluted share.
• Why does Strategy remain bullish on bitcoin? Chairman Michael Saylor calls the holdings a “digital fortress” backing its bitcoin‑credit strategy.