Strategy posts $12.4B Q4 2025 loss as Bitcoin slide triggers 17% share price drop

On Feb. 5, 2026, Bitcoin-buying firm Strategy reported a net loss of $12.4 billion for the fourth quarter of 2025 after Bitcoin fell 22% over the period to below $88,500. The company's revenue for the quarter rose 1.9% year-on-year to $123 million, but its share price dropped 17% to $107 as Bitcoin extended its decline and pushed Strategy's 713,502 BTC holdings 17.5% underwater. Executives Phong Le and Andrew Kang said Strategy still has a strong balance sheet, supported by $2.25 billion in cash and no major debt maturities until 2027.