Strategy reported a record $10 billion profit in Q2, with operating income up 7,100% YOY at $14 billion. The company plans to raise $4.2 billion through stock offerings to buy more Bitcoin, aiming to purchase $84 billion worth under its “42/42” plan. CEO Phong Le calls Strategy misunderstood and undervalued.

Strategy’s software arm brought in $114 million in revenue, while the company’s common stock, MSTR, closed at $401.86. Strategy holds 628,791 BTC worth $73.3 billion, with a 25% increase in “BTC yield” and a $13 billion “BTC $ Gain” in Q2. Full-year targets raised to 30% yield and $20 billion gain.

To further increase its Bitcoin holdings, Strategy will issue $4.2 billion worth of shares through its preferred stock offering. This move follows a previous $2.5 billion raise in July, which was used to purchase 21,021 Bitcoin. The latest raise could allow Strategy to acquire an additional 36,128 Bitcoin at current market prices.

Read more at Cointelegraph: Strategy Most Misunderstood Stock As It Posts $10 Billion Profit For Q2