Strategy's Bitcoin Holdings See $1.4B in Unrealized Profit as BTC Surges

Key highlights:

Strategy's Bitcoin stack is now profitable again as BTC rallied
The treasury returned to an unrealized gain of about $1.4 billion
MSTR stock also jumped 10% in premarket trading

Strategy's Bitcoin treasury is back in the green. The company's holdings saw an unrealized gain of about $1.4 billion after BTC climbed nearly 22% in five consecutive trading sessions.

Strategy moves from deep losses to gains

The firm holds 840,447 BTC, bought at an average price of $75,385 per coin. BTC price currently trades around $77,700, which means the value of that stash is now back above what the company originally paid.

Strategy’s BTC holdings. Source: BitcoinTreasuriesNet

That wasn't the case for most of 2026. Bitcoin fell 54% from its October peak of $126,000 to as low as $58,000 in July. This brought the company's unrealized loss to about $13 billion.

Since that time, the firm sold around 6,916 BTC at the $60,000 price range. They used some of the proceeds to build up its cash position and strengthen its dollar reserve. Strategy currently holds $4.8 billion, enough to cover 2.8 years of dividend payments and other financial obligations.

Additionally, the firm has been working to restore its perpetual preferred stock, STRC, to its intended $100 par value. In the last four weeks, the company repurchased about $347 million worth of STRC shares, using more than a third of its $1 billion buyback authorization. That preferred stock is trading at $95 as of press time, up 35% from its June low of $71.

The rebound in Bitcoin's price has also pushed MSTR stock upwards. Shares jumped as much as 10% in pre-market trading to reach their highest level in two months.

Meanwhile, the company's CEO, Phong Le, said earlier in the month that it plans to resume buying BTC before the year is out.

Not all treasury firms are celebrating

The turnaround for Strategy is different from how things are playing out for other corporate crypto holders. BitMine Immersion Technologies reported holding about 5,815,164 ETH as of August 16 after adding about 10,000 tokens the week before.

Estimates put its average purchase price at around $3,366 per coin. Ethereum is still trading at $2,371, which puts the firm in an unrealized loss of about $5.79 billion, according to external projections. Essentially, BitMine's Ethereum holdings are still well underwater, even as it continues staking most of its tokens.

As for BTC, on-chain data from Glassnode shows that the coin has some level of cushion if its price pulls back. The firm’s cofounder Rafael Schultze-Kraft highlighted on X that about 3.44 million BTC now have a cost basis between $58,000 and $67,000. To add, about 2.23 million of those coins, which is close to 11% of the supply, were just added in the past 11 weeks.