Fun

MicroStrategy’s Q2 earnings reveals Bitcoin stockpile now $14.7B

News Feed - 2024-08-02 09:08:21

Tom Mitchelhill8 hours agoMicroStrategy’s Q2 earnings reveals Bitcoin stockpile now $14.7BMicroStrategy shares jumped just 1% in after-hours trading, with the company posting a net loss of $123 million in the second quarter.3426 Total views9 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onBusiness intelligence firm MicroStrategy purchased an additional 12,222 Bitcoin for $805 million in the second quarter of 2024, bringing its total Bitcoin holdings to 226,500 BTC worth around $14.7 billion at current prices. 


In its Q2 earnings call, MicroStrategy posted significant losses of $5.74 per share on a quarterly revenue of $111.4 million, a 7% decline year-over-year.


The losses exceeded analyst’s expectations, which pegged a quarterly loss of $0.78 per share and $119.3 million in revenue, according to Bloomberg survey data.MicroStrategy posted declining revenue of $111.4 million in Q2. Source: MicroStrategy


Notably, the firm revealed a net loss of $123 million in Q2, a slight improvement from its net loss of $137 million in the same quarter of 2023.MicroStrategy reported a net loss of $123 million in Q2. Source: MicroStrategy.


The firm shared that its total holdings of 226,500 Bitcoin had been acquired for $8.5 billion at an average price of $36,821 per Bitcoin.


It also unveiled a new key performance indicator called “Bitcoin Yield,” which represents the percentage change over time in the ratio between the firm’s Bitcoin holdings and its diluted outstanding shares.


Related:Michael Saylor ups BTC price prediction to $13M in bullish keynote


Diluted shares outstanding include all of the company’s common stocks and any additional shares created from convertible notes or exercising stock options.


MicroStrategy said its BTC yield currently stands at 12.2% year-to-date, noting that it would target a rate of between 4%–8% annually over the next three years.


“The Company uses BTC Yield as a KPI to help assess the performance of its strategy of acquiring bitcoin in a manner the Company believes is accretive to shareholders,” it said in a statement.


The company also confirmed that its 10:1 stock split — announced initially on July 11 — would be going forward effective Aug. 7.More Bitcoin buying ahead?


MicroStrategy said it would file a registration form for a $2 billion at-the-market equity offering in a bid to raise further capital, though it did not share what the capital would be used for. 


Historically, MicroStrategy has raised capital to purchase additional Bitcoin.


MicroStrategy shares are trading at $1,500 at the time of writing, having fallen 6% on Aug. 2. The firm’s share price bounced 1.1% in after-hours trading following the release of its Q2 earnings, per TradingView data.MicroStrategy shares fell 6% on the day but bounced 1% in after-hours trading. Source: TradingView


Magazine:THORChain founder and his plan to ‘vampire attack’ all of DeFi# Bitcoin# Cryptocurrencies# Business# Bitcoin Price# Stocks# Shares# Stock Investment# MicroStrategyAdd reaction

News Feed

US Withdraws Request to Extradite BTC-e’s Vinnik From France, Lawyer Sees ‘Deceitful Maneuver’
US Withdraws Request to Extradite BTC-e’s Vinnik From France, Lawyer Sees ‘Deceitful Maneuver’ U.S. authorities have withdrawn their request to extradite the alleged operator
Morpho secures $50M funding led by Ribbit Capital for onchain lending
Ana Paula Pereira7 hours agoMorpho secures $50M funding led by Ribbit Capital for onchain lendingMorpho Labs has raised $50 million from over 40 investors, including Ribbit Capital, which also invests in Revolut, NuBank,
Helen Partz10 hours agoBitmain to start shipping new Bitcoin Antminer T21 in January 2024Bitcoin miner supplier Bitmain has released its brand-new Antminer T21, featuring a computing power of 190 TH/s and an energy effic
William Suberg1 hour agoBitcoin difficulty jumps 6% to new peak as miners ignore BTC price dipBTC price action is causing some to panic, but Bitcoin miner confidence in the network is there for all to see.1049 Total view
Adrian J. Permal9 hours agoHow do DeFi projects generate profit?If you don’t know where the yield is coming from, you are the yield. This week’s episode of Market Talks discusses how DeFi platforms generate a profit
Microsoft pours $2.2B into Malaysia for cloud, AI expansion
Amaka Nwaokocha14 hours agoMicrosoft pours $2.2B into Malaysia for cloud, AI expansionIn a statement, Microsoft said it will collaborate with the Malaysian government to establish a “national AI Center of Excellence”
Why XRP price might jump 70% vs. BTC after the Bitcoin halving
Yashu Gola11 hours agoWhy XRP price might jump 70% vs. BTC after the Bitcoin halvingWhale accumulation patterns and critical Bitcoin halving fractals suggest a significant rebound for XRP/BTC price in the upcoming months
RenQ Finance Raises Nearly $1 Million in 24 Hours as Stage 4 Completes
RenQ Finance Raises Nearly $1 Million in 24 Hours as Stage 4 Completes press release PRESS RELEASE.After RenQ Finance achieved remarkable success by completing stage 4, they generat
Yashu Gola9 hours agoMicroStrategy’s Bitcoin stash back in profit with BTC price above $30KThe Michael Saylor-led software firm has made $132 million in unrealized profits from its Bitcoin bet.4814 Total views343 Total
Turner Wright2 hours agoGameStop will stop support for its crypto wallets, citing ‘regulatory uncertainty’The retail company used to be known primarily for its brick-and-mortar retail stores but has also launched an
Bitcoin Open Interest Dropped Significantly – Investors Cautions Amid US Election Week?
Este artículo también está disponible en español. Bitcoin has faced significant volatility and uncertainty as it approaches a pivotal week, with tomorrow’s U.S. electio
OpenAI’s Mira Murati is “not sure” where Sora’s training data comes from
Ana Paula Pereira3 hours agoOpenAI’s Mira Murati is “not sure” where Sora’s training data comes fromDuring an interview with The Wall Street Journal, Mira Murati offered vague responses when asked about the under