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In a recent financial disclosure, two of the crypto industry’s giants, Coinbase (COIN) and Strategy (MSTR), reported significant gains in their third-quarter (Q3) results.
Coinbase Surges Past Profit Expectations
Coinbase exceeded analysts’ expectations for its Q3 profit, buoyed by increased volatility in digital assets that elevated trading volumes on its platform. The company reported a transaction revenue of $1.05 billion for the quarter, a substantial rise from $572.5 million during the same period last year.
Additionally, the cryptocurrency exchange recorded a net income of $432.6 million, translating to $1.50 per share, compared to just $75.5 million, or $0.28 per share, a year prior. Analysts had projected a profit of $1.06 per share, according to Reuters.
Coinbase also completed its acquisition of Deribit in the third quarter. Alesia Haas, the company’s finance chief, noted during a conference call that Deribit commands over 75% of the market share for options, primarily outside the US.
This acquisition opens pathways for Coinbase to expand its options market within the US. As part of its broader strategy, Coinbase also highlighted its commitment to accelerating payments through stablecoin adoption, citing favorable policy trends and growing interest from financial institutions and corporations.
David Bartosiak, a stock strategist at Zacks Investment Research, remarked, “Coinbase is cash-rich and growth-ready,” emphasizing that the company is evolving beyond merely trading cryptocurrencies to establishing the infrastructure for a new financial internet.
Largest Corporate Bitcoin Holder Posts $2.78 Billion Net Profit
Meanwhile, Strategy, previously MicroStrategy, reported profits in the third quarter after experiencing a loss the previous year. This positive sentiment surrounding the cryptocurrency sector has benefited the company, which is the largest corporate Bitcoin (BTC) holder.
As of October 26, the company held 640,808 Bitcoin, with a total acquisition cost of $47.44 billion, averaging $74,032 per BTC. With the market’s leading crypto currently trading around $107,400 when writing, the company’s holdings are positioned for significant appreciation.
Strategy’s net profit for the three months ended September 30 was reported at $2.78 billion, or $8.42 per share, contrasting sharply with a loss of $340.2 million, or $1.72 per share, a year earlier. However, it’s worth noting that Strategy’s shares have declined 12% so far in 2025, even as Bitcoin prices have risen by 14.5%.
COIN stocks closed Thursday’s trading session with a 3% surge toward $328 on the wake of the financial disclosure. Similarly, Strategy’s shares climbed nearly 4% following its earnings report toward the $254 mark.
Featured image from DALL-E, chart from TradingView.com
