Strategy CFO Andrew Kang steps down as Q3 results land

Strategy says its chief financial officer, Andrew Kang, will step down on 5 Nov, in the third-quarter results it published on Thursday. The company, which CryptoWatchDesk last covered on 5 Oct when it flagged the quarter’s bitcoin gain, confirmed operating income of $20.91 billion and net income of $19.53 billion, or $44.75 a diluted share.

The headline gain is almost all price. The figure that tracks shareholders is BTC Yield, Strategy’s own measure of bitcoin per diluted share, and it stands at -3.7% for 2026 so far. Strategy has also sold about $431.8 million of bitcoin this year to fund preferred dividends and buybacks of its STRC preferred stock. Holdings grew; each share’s slice did not.

Preferred dividends cost $419.6 million in the quarter, against $139.9 million a year earlier. Strategy has repurchased about 21 million STRC shares this year for roughly $2.04 billion, an average of $97.39, below the $100 stated amount, and has $956.7 million left under its programme. Its USD Reserve and USD Cash total about $5.07 billion, which it says covers about 3.4 years of dividends and interest. It held 848,517 BTC as of 25 Oct, at an average cost of about $75,446.

Executive chairman Michael Saylor struck the usual note. “We’re at the beginning of the next bitcoin bull market. Banks are embracing bitcoin, bitcoin’s dominance among digital assets is growing, institutional demand is back, and bitcoin price is 21% above its 200-week moving average,” he said in the release.

Kang will stay as an adviser until 31 Dec. Chief executive Phong Le takes over as principal financial officer in the meantime, and Reza Virasteh, executive vice president of operations, becomes CFO on 1 Jan 2027. Shareholders approved daily dividends on Wednesday, with STRC moving first in November. Strategy shares closed 2.4% lower at $141.62 on Thursday, before bitcoin’s Thursday evening’s slide to $78,200.

This article is for information only and is not investment advice.