WASHINGTON (dpa-AFX) - Bitcoin treasury company Strategy Inc. (MSTR) reported a significantly wider first-quarter net loss, as a sharp increase in unrealized losses on digital assets weighed heavily on earnings.
Net loss for the quarter widened to $12.77 billion, or $38.25 per share, from $4.23 billion, or $16.49 per share, in the same period last year.
The increase in losses was primarily driven by unrealized losses on digital assets totaling $14.46 billion, compared with $5.91 billion a year ago.
Revenue for the quarter rose to $124.3 million from $111.1 million last year.
The company said it held approximately 818,334 bitcoins as of early May.
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