Strive reported net income attributable to common shareholders of $474.8 million in the third quarter, driven mainly by a $533.7 million unrealized gain on digital assets, while operating revenue was only $2.7 million. As of September 30, the company held 28,000 bitcoin valued at $2.34 billion, and its year-to-date bitcoin yield reached 63.2%. It then acquired 15,124 more coins between October 1 and October 30, bringing its holdings to 43,124, and raised approximately $609 million in net proceeds through an offering of 15% Series A perpetual preferred shares designated SATS. Preferred dividends of $34.2 million reduced quarterly GAAP income of $509 million to the common-shareholder figure, while Strive recorded an $88.4 million net loss attributable to common shareholders over the first nine months of the year. Despite the increase in assets, ASST traded near $20.70, approximately 29% below its level one year earlier.
Source: Read the original article
