PANews reported on October 31 that, according to Bloomberg, Strategy reported a net profit of $2.8 billion in the third quarter, with unrealized gains recorded due to the increased value of its approximately $69 billion cryptocurrency reserves. In announcing its results, the company stated that the yield on its variable-rate Series A perpetual extended preferred stock will be increased by 25 basis points to 10.5% in November. Co-founder Michael Saylor stated, "We believe we are at an inflection point where our net asset value multiple has been declining as the Bitcoin asset class matures and volatility decreases." Since hitting an all-time high last November, Strategy's stock price has fallen by approximately 45%, erasing most of the premium the stock has enjoyed over the years relative to its Bitcoin holdings.

Meanwhile, demand for preferred stock has been very weak. Recent sales have fallen far short of Thaler's anticipated large-scale fundraising targets, leading to a slowdown in Bitcoin buying in recent weeks. Strategy CEO Phong Le stated in a conference call that the company is also seeking to raise funds in international markets and is considering launching a preferred stock-backed ETF. Strategy's annual interest and dividend expenses are approximately $689 million. In its latest earnings report, the company stated that it did not issue any Class A common stock under its Common Stock ATM program this month and reiterated its commitment to continuing a prudent approach to raising capital through common stock. Revenue from the company's traditional enterprise software business grew 11% to $128.7 million.