Strive Inc. (NASDAQ: ASST) reported its first profitable quarter in Q3 2026, with net income reaching $508.0 million to $509 million, almost entirely driven by unrealized Bitcoin gains. The company recorded $533.7 million in unrealized gains on digital assets, part of a broader $544 million investment gain, while operating revenue came to just $2.7 million—split between $1.6 million in investment advisory fees and $1.1 million in medical device sales from its legacy Semler Scientific business.
The result is a sharp reversal from Q2 2026, when Strive lost $257.6 million after a decline in Bitcoin’s fair value. Operating expenses for Q3 were $38.7 million, including a $14.65 million impairment on medical device research assets. On a per-share basis, Strive reported GAAP earnings of $5.24 per fully diluted share, while non-GAAP adjusted net income attributable to common stockholders was $494.6 million, or $5.46 per diluted share, after $34.2 million in preferred dividends.
Strive accelerated its Bitcoin purchases after September 30. At the end of Q3 it held 27,876 BTC valued at approximately $2.34 billion. Between October 1 and October 30, it acquired 15,124 BTC, including one purchase of 6,182 BTC for roughly $511.4 million and a smaller 124 BTC purchase for about $10 million. By November 2, total holdings reached 43,124 BTC, valued above $3.25 billion, making Strive the fourth-largest public corporate Bitcoin holder behind Strategy, Metaplanet, and Twenty One Capital.
Funding for the accumulation came partly from a $630 million preferred stock offering of 15.00% SATS shares, which closed October 20 and raised net proceeds of about $609 million. As of October 30, Strive held $490.4 million in cash and equivalents, plus a $50.1 million position in Strategy Inc. preferred stock. CEO Matthew Cole said the company “has continued to successfully execute on its treasury management strategy, delivering a strong bitcoin yield year to date.”
Strive reported a quarterly Bitcoin yield of 18.5% and a year-to-date yield of 63.2%, with October buying alone carrying a 19.3% yield. The company is also evaluating potential expansion into banking, brokerage, decentralized finance, reinsurance, structured asset-backed securities, and tokenization, although it did not provide a timeline.
