MicroStrategy Posts $102.6 Million Net Loss in Q2, Bitcoin Holdings Rise to 226,500

MicroStrategy has reported its second-quarter financial results, posting a net loss of $102.6 million, or $5.74 per share, for the second quarter, compared to revenue of $22.2 million, or $1.52 per share, in the same period last year. The loss was due to the company taking an $180.1 million impairment provision on its bitcoin holdings, compared to $24.1 million in the second quarter of last year. MicroStrategy held 226,500 bitcoins as of 31 July, up from mid-June, according to the report. 226,500 bitcoins were acquired for $8.3 billion, an average of $36,821 each. At the current price of $63,500, those assets are worth about $14.4 billion. The company said its "BTC yield" for the year to date is 12.2 per cent, with a target of 4 to 8 per cent per year for the next three years.