TLDR
- Strategy Inc. hits Q2 records with $14B BTC gain, eyes $80 EPS for 2025.
- MSTR posts $10B net income as bitcoin surge powers record Q2 earnings.
- Strategy fuels $14B Q2 gains via BTC boom
- Bitcoin windfall drives MSTR Q2 profits, with $34B income eyed for 2025.
- Strategy’s BTC bet pays off: $64B in assets, 628K BTC, record EPS ahead.
Strategy Incorporated (MSTR) shares closed regular trading at $401.86, gaining 1.73%, but dropped 1.05% to $397.65 in after-hours trading.
The dip followed a blockbuster Q2 performance fueled by bitcoin gains and capital markets expansion. Despite the slip, the company posted record-breaking income, earnings per share, and digital asset gains.
In the second quarter of 2025, Strategy reported $14.03 billion in operating income, driven by a $14 billion unrealized bitcoin gain. Net income surged to $10.02 billion, while diluted earnings per share reached $32.60, both setting new company records. These figures mark a sharp contrast to the prior year’s $102.6 million net loss.
STRC IPO and Capital Programs Boost Liquidity
Strategy completed the IPO of STRC, its short-duration, high-yield credit product, in July 2025, raising approximately $2.5 billion. The company also secured $6.8 billion in Q2 through ATM programs and another $3.7 billion between July 1 and July 29. As a result, cash and cash equivalents rose to $50.1 million by June 30, 2025.
Strategy posts record Q2 2025 results & shares 2025 guidance.
Q2 Result: $14B op. income, $10B net income, $32.60 EPS.
FY2025 Earnings Guidance: $34B op. income, $24B net income, $80 EPS.
FY2025 BTC Guidance: 30% BTC Yield, $20B BTC $ Gain.https://t.co/qXLqZEBcqj— Strategy (@Strategy) July 31, 2025
The STRC IPO expanded the firm’s capital markets platform and introduced a dividend-focused product targeting new market segments. Strategy launched multiple preferred stock series—STRK, STRF, STRD—through IPOs and ATM offerings to diversify funding. Together, these instruments represent billions in available capital for further bitcoin purchases.
In total, Strategy has approximately $43.6 billion available under its ongoing equity and preferred stock programs. The capital strategy supports continued bitcoin accumulation and enhances financial flexibility. The company maintains a high cash burn but sees future gains tied to bitcoin performance.
Bitcoin Performance Drives Massive Income Surge
Strategy’s bitcoin holdings reached 628,791 BTC by July 29, 2025, acquired at a total cost of $46.07 billion. The company achieved a year-to-date BTC yield of 25% and recorded $13.2 billion in bitcoin dollar gains. Q2 alone saw a BTC $ Gain of $9.5 billion, driven by a BTC price jump to $107,752.
Digital assets were valued at $64.4 billion on June 30, based on market prices, reflecting a 51.9% unrealized gain. The average acquisition cost per BTC stood at $70,982, with year-to-date gains of 111,894 BTC. Strategy’s revised target now aims for a 30% BTC yield and $20 billion in BTC $ Gain by year-end.
The firm applied fair value accounting for the second straight quarter, resulting in a stronger alignment of asset value and reporting. The financial structure allows bitcoin-related gains to directly enhance income and earnings. This model supports the company’s vision of becoming the dominant Bitcoin Treasury platform.
