Sponsor: Mantle — Mantle is building the largest sustainable hub for onchain finance.
Michael Saylor’s Strategy released financials for the first quarter of 2025, reporting a BTC yield of 13.8% and BTC gains of $5.8B for shareholders on a year-to-date basis. Strategy also doubled its “21/21” capital plan, announcing that it would seek to raise $42B through equity and $42B through fixed income to buy more BTC.
While not valued like a traditional company, Strategy’s headline earnings were certainly a major disappointment, with the company's -$16.53 of earnings per share undershooting analyst expectations by a whopping 82,550%.
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