Strive (ASST) Posts $474.8 Million Common Net Income as Bitcoin Yield Hits 63.2%

According to Bitcoin Magazine, Strive reported $474.8 million of net income attributable to common stockholders for the third quarter ended September 30. Chairman and CEO Matthew Cole highlighted a year-to-date bitcoin yield of 63.2% through September 30. GAAP net income reached $509.0 million, largely driven by a $533.7 million unrealized gain on digital assets marked to fair value, while operating revenue was $2.7 million. Preferred dividends of $34.2 million adjusted the GAAP figure to the common stockholders' net income. Strive acquired 8,136 bitcoin in the third quarter at an average cost of roughly $78,885, bringing total holdings to 28,000 bitcoin on September 30, and further expanded its stack to 43,124 bitcoin by October 30. The company closed a registered offering of 7 million shares of its 15% Series A perpetual preferred stock for approximately $609 million in net proceeds. For the nine months ended September 30, Strive posted an overall net loss attributable to common stockholders of $88.4 million. ASST shares closed at $20.59 on Thursday.