Strategy posts first-quarter net loss on bitcoin fair-value hit

12 articles · Updated · The Wall Street Journal · May 5

The company reported a $12.77bn loss, or $38.25 a share, after a $14.5bn unrealised digital-asset loss, while revenue rose to $124m from $111m.
Bitcoin fell 23% in the quarter, its worst start to a year since 2018, and Strategy shares slipped 1.4% after hours despite gaining 23% this year.
Fair-value accounting adopted last year has increased earnings volatility. Strategy held about 818,334 bitcoin worth roughly $67bn as of 3 May, though its shares remain 60% below their November 2024 peak.

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