" or "Kerugian $8,2 Miliar" but "hole" is figurative, maybe "Lubang $8,2 Miliar" works. I'll use "Lubang $8,2 Miliar" to keep the metaphor.
Second paragraph: "The loss is staggering even by Strategy's volatile standards. The company has been the most aggressive corporate buyer of Bitcoin, holding hundreds of thousands of coins on its balance sheet. But the prolonged crypto bear market of 2025 and early 2026 took a toll. The $8.2 billion net loss reflects impairment charges on its Bitcoin holdings, which have been under water for much of the year. Strategy didn't break out the exact impairment figure, but the scale suggests a brutal mark-to-market quarter."
Translation: "Kerugian ini sangat mengejutkan bahkan menurut standar volatilitas Strategy. Perusahaan ini telah menjadi pembeli korporat paling agresif untuk Bitcoin, memegang ratusan ribu koin di neracanya. Namun pasar bear crypto yang berkepanjangan pada 2025 dan awal 2026 memakan korban. Kerugian bersih $8,2 miliar mencerminkan biaya penurunan nilai (impairment) pada kepemilikan Bitcoin, yang telah berada di bawah air (under water) selama sebagian besar tahun ini. Strategy tidak merinci angka pasti penurunan nilai tersebut, tetapi skala ini menunjukkan kuartal mark-to-market yang brutal."
Note: "staggering" -> "sangat mengejutkan", "volatile standards" -> "standar volatilitas", "most aggressive corporate buyer" -> "pembeli korporat paling agresif", "holding hundreds of thousands of coins" -> "memegang ratusan ribu koin", "took a toll" -> "memakan korban", "impairment charges" -> "biaya penurunan nilai" or "biaya impairment" (common in Indonesian finance). I'll use "biaya penurunan nilai" but "impairment" is also used. I'll write "biaya impairment" to be precise. "under water" -> "di bawah air" is literal, but in finance it means "di bawah harga perolehan" or "terendam". I'll use "berada di bawah nilai perolehan" but to keep it simple, "terendam" is used in Indonesian finance. I'll use "terendam" but that might be less common. Actually "under water" means the value is less than the cost. I'll say "yang telah berada di bawah harga perolehan" but that's long. I'll use "yang telah terendam" but it's okay. I'll go with "yang telah berada di bawah nilai perolehan" for clarity. But to keep it concise, "yang telah terendam" is acceptable. I'll use "yang telah terendam" and note it's a metaphor. Also "mark-to-market" is a term, often left as is. I'll keep "mark-to-market" in English or translate as "penilaian pasar". I'll use "penilaian mark-to-market" but it's redundant. I'll say "kuartal mark-to-market yang brutal" since it's a known term.
Third paragraph: "On the earnings call, Saylor said Strategy will no longer use 100% of its funds to buy Bitcoin. Instead, he indicated a shift in focus to STRC. He didn't elaborate on what STRC is — a new token, a ticker for a spin-off, or something else entirely. The lack of detail left analysts and investors guessing. What's clear is that Saylor is walking away from the single-asset treasury strategy that defined the company for years. The timing isn't great: Bitcoin was trading around $45,000 at the end of July, well below the average purchase price Strategy has accumulated over the years."
Translation: "Pada panggilan pendapatan, Saylor mengatakan Strategy tidak akan lagi menggunakan 100% dananya untuk membeli Bitcoin. Sebaliknya, ia mengindikasikan pergeseran fokus ke STRC. Ia tidak menjelaskan apa itu STRC — token baru, ticker untuk spin-off, atau sesuatu yang sama sekali berbeda. Kurangnya detail membuat analis dan investor menebak-nebak. Yang jelas adalah Saylor meninggalkan strategi treasury aset tunggal yang mendefinisikan perusahaan selama bertahun-tahun. Waktunya tidak tepat: Bitcoin diperdagangkan sekitar $45.000 pada akhir Juli, jauh di bawah harga pembelian rata-rata yang telah diakumulasi Strategy selama bertahun-tahun."
Note: "earnings call" -> "panggilan pendapatan" as before. "indicated" -> "mengindikasikan". "elaborate" -> "menjelaskan secara rinci" but I used "menjelaskan" with "tidak menjelaskan apa itu". "ticker for a spin-off" -> "ticker untuk spin-off
