New York, November 05, 2024–The largest corporate holder of Bitcoin MicroStrategy reported its financial results for the third quarter of 2024 on October 30.
In the third quarter, MicroStrategy achieved a 5.1% BTC Yield KPI, raising a total of $2.1 billion through equity and debt. The company’s total bitcoin holdings increased by 11% during the quarter, contributing to a year-to-date BTC Yield of 17.8%.
This yield is critical to assessing the firm’s strategy of leveraging bitcoin as a treasury reserve asset. CEO Phong Le emphasized the focus on shareholder value through a digital transformation of capital.
Financially, the company’s total revenues for Q3 2024 reached $116.1 million, down 10.3% year-over-year. Operating expenses surged to $514.3 million, primarily due to impairment losses on digital assets amounting to $412.1 million. The company’s net loss was $340.2 million, translating to a diluted loss per share of $1.72.
MicroStrategy also announced a new At-the-Market Equity Offering Program, enabling the sale of up to $21 billion in class A common stock. The company aims to utilize these funds for
It also announced its strategic $42 billion capital initiative aimed at bolstering its bitcoin treasury, called the “21/21 Plan.”
