MicroStrategy financial report: Bitcoin cumulative impairment loss of $2.153 billion, Q4 net loss of $249.7 million

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MicroStrategy financial report: Bitcoin cumulative impairment loss of $2.153 billion, Q4 net loss of $249.7 million

In its announced fourth-quarter 2022 financial report, MicroStrategy stated that it increased its total Bitcoin holdings to 132,500 bitcoins in the fourth quarter through additional purchases. As of December 31, 2022, the book value of the bitcoins was approximately $1.84 billion, with accumulated impairment losses of $2.153 billion. The average cost per bitcoin was around $30,137.

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In its announced fourth-quarter 2022 financial report, MicroStrategy stated that it increased its total Bitcoin holdings to 132,500 coins in the fourth quarter through additional purchases, with a book value of approximately $1.84 billion as of December 31, 2022. The accumulated impairment loss amounted to $2.153 billion, with an average cost per Bitcoin of around $30,137.

Additionally, MicroStrategy sold about 704 Bitcoins, generating $11.8 million in cash proceeds after expenses. The selling profit for the fourth quarter of 2022 was $900,000.

MicroStrategy reiterated its commitment to the long-term strategy of buying, holding, and increasing its Bitcoin position. The company reported a revenue of $132.6 million in the fourth quarter, with a gross profit of $110.5 million. Operating expenses totaled $299.5 million, resulting in an operating loss of $193.7 million and a net loss of $249.7 million.

Among the operating expenses was the impairment loss on MicroStrategy's digital assets (excluding sale proceeds), which amounted to $197.6 million, compared to $146.6 million in the fourth quarter of 2021.

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