Strategy, the largest Bitcoin
Treasury company, ended the fourth quarter of 2025 with a net loss of $12.4 billion.
The company linked this result to Bitcoin’s 22% price drop during the same period. Strategy’s stock closed 17% lower on February 5, falling to $107.
While the final earnings figure was negative, the company still reported a small rise in revenue. Fourth-quarter income reached $123 million, up 1.9% from the year before.
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Strategy’s leaders focused on the company’s ability to manage financial pressure. Chief financial officer Andrew Kang said the firm’s overall structure remains stable.
He noted that Strategy continues to rely on its large Bitcoin position of 713,502 BTC and its initiative toward Digital Credit.
The company also increased its cash balance to $2.25 billion in Q4. According to Strategy, this amount can support around 30 months of dividend payments.
Another point the company highlighted is its debt schedule. Strategy does not face major debt repayments until 2027. This reduces the need to sell Bitcoin in the near future to meet any obligations.
On the earnings call, CEO Phong Le told investors that the company’s situation does not call for concern. He also mentioned that Strategy’s enterprise value still exceeds the $45 billion of its Bitcoin holdings.
Strategy recently revealed that it began 2026 with a fresh purchase of 1,283 Bitcoin for $116 million. What did the company say? Read the full story.
