Strategy Posts $8.2B Q2 Loss as Coinbase Revenue Falls 19%

Leading Bitcoin treasury company Strategy’s results for the second quarter show a loss of over $8 billion, while crypto exchange Coinbase reported a 14% quarterly revenue loss.

According to the two companies’ latest earnings reports released on Thursday, Strategy lost over $8.23 billion in its operations after recording an unrealized loss of $8.32 billion in the second quarter of 2026. The largest crypto exchange by volume in the U.S., Coinbase, also suffered a 19% annual revenue decline, while its trading volumes went down 24% to slightly above $145 billion.

Q2 2026 Bitcoin Price Cooldown Sees Strategy Draw Losses

Strategy grew its BTC holdings by 846 units within the three-month period ending June 30. In its report, the company’s chief executive, Phong Le, said it reduced its convertible debt to just under $7 billion and increased its U.S. dollar holdings and Bitcoin per share by 12% and 5%, respectively. The Bitcoin treasury had seen a $10 billion income in the second quarter of 2025, but Bitcoin’s dull price performance this year has supposedly caused a net loss of $8.22 billion.

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