MicroStrategy posted a $2.8 billion net profit for the third quarter of 2025, while unrealized Bitcoin portfolio gains totaled $3.9 billion.
The company’s mNAV ratio dropped to 1.25, marking its lowest point since early 2023.
In Q3, MicroStrategy bought 42,706 BTC — a smaller purchase than in prior quarters — but still forecasts $24 billion in annual net profit.
