MicroStrategy, a business intelligence software provider and Bitcoin development company, announced its latest financial report. It reported a net loss of US$102.6 million in the second quarter due to an impairment loss of US$180.1 million on its Bitcoin holdings. The company also disclosed that it increased its holdings of 169 Bitcoins in July this year.

MicroStrategy's financial report showed that the company's second-quarter revenue was US$111.4 million, lower than analysts' expectations of US$122 million; net loss was US$102.6 million, or loss per share of US$5.74; compared with profit of US$22.2 million in the same period last year US dollars, earnings per share of US$1.52.

MicroStrategy pointed out that the main reason for the loss was the recognition of asset impairment losses of $180.1 million due to the decline in Bitcoin prices, compared with an impairment charge of $24.1 million in the second quarter of last year.

Michael Saylor, executive chairman of MicroStrategy, said the company purchased an additional 169 Bitcoins in July this year, at a cost of about $11.4 million.

As of July 31, the company held a total of 226,500 Bitcoins, with purchase costs totaling $8.3 billion, at an average cost of $36,821 per Bitcoin. Based on a currency price of US$64,000, MicroStrategy’s currency holdings are worth US$14.5 billion, with a book profit (floating profit) of approximately US$6.2 billion.

In July, @MicroStrategy acquired an additional 169 BTC for $11.4 million and now holds 226,500 BTC. Please join us at 5pm ET as we discuss our Q2 2024 financial results, the outlook for $BTC, and our#Bitcoindevelopment strategy. $MSTRhttps://t.co/cfGPc42jfM

— Michael Saylor (@saylor) August 1, 2024

In addition, MicroStrategy also introduced "BTC yield" as a key performance indicator (KPI) in the Bitcoin strategy, aiming to measure the change in the ratio between "the company's Bitcoin holdings" and "the number of shares outstanding after assuming dilution."

Since this year, MicroStrategy's "BTC yield" has reached 12.2%, and the goal is to reach 4% to 8% annually in the next 3 years.

〈Added 169 Bitcoins in July! MicroStrategy announces Q2 financial report, net loss exceeds US$100 million> This article was first published on "Blocker".