Strive Posts $509 Million Q3 Profit Driven by Unrealized Bitcoin Gains

Strive reported a third-quarter GAAP net income of $509 million, or $5.24 per diluted share, driven by roughly $534 million in unrealized digital asset gains. Operating revenue was $2.7 million against $38.7 million in operating expenses. The company expanded its cryptocurrency reserves by purchasing 8,136 BTC during the third quarter and an additional 15,124 BTC in October, raising total holdings to 43,124 BTC valued at over $3.25 billion. Acquisitions were partly financed by a preferred equity offering netting $609 million, leaving Strive with $490.4 million in cash reserves.