MicroStrategy Reports Net Loss of $102.6 Million for Second Quarter, Bitcoin Holdings Rise to 226,500 Coins
Publication Time:2024-08-02 05:26:08
MicroStrategy recently released its financial results for the second quarter. During this period, the company experienced a net loss of $102.6 million, translating to a loss per share of $5.74. In comparison, revenue for the same period last year was just $22.2 million, with earnings per share at $1.52. The significant loss can largely be attributed to an impairment charge of $180.1 million against its Bitcoin holdings, compared to a charge of $24.1 million in the second quarter of the previous year. Notably, despite the loss, MicroStrategy’s Bitcoin holdings continued to grow, reaching 226,500 coins by July 31. The total acquisition cost for these 226,500 Bitcoin stands at $8.3 billion, with an average cost per coin of approximately $36,821. At the current market price of $63,500 per coin, the total value of these Bitcoin is estimated at $14.4 billion. Moreover, MicroStrategy stated that its annual Bitcoin yield has reached 12.2% since the beginning of the year and plans to set its target annual yield for the next three years between 4% and 8%.
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net loss
impairment charge