Strive reported $474.8 million of net income attributable to common stockholders for the third quarter ended Sept. 30, a print that arrived Friday alongside a company claim that Class A total return had outperformed bitcoin by 103.7% year to date through the same date.

GAAP net income was $509.0 million, or $5.24 a share on a fully diluted basis. Almost all of that came from a $533.7 million unrealized gain on digital assets marked to fair value. Operating revenue for the quarter was just $2.7 million, so the earnings line is a treasury mark, not a fee business.

In a post on X that led with the outperformance figure, Strive also highlighted a year-to-date bitcoin yield of 63.2%…

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