FILINGStrategy (MSTR) · 8-K · accepted Monday, Aug 25, 2025, 7:59 AM ET
Strategy bought 3,081 BTC, bringing its total to 632,457 BTC; raised $357.0M selling common and STRD and STRF and STRK
From Strategy’s 8-K, accepted by the SEC on Aug 25, 2025 at 7:59 AM ET, covering Aug 18 to Aug 24.
What it says
Strategy reports ATM sales for Aug 18-24, 2025 (MSTR, STRK, STRF, STRD) and acquisition of 3,081 BTC, bringing holdings to 632,457 BTC.
The numbers
| Bitcoin bought | 3,081 BTC | Aug 18 to Aug 24 |
| Average price | $115,829 | per bitcoin |
| Cost | $356.9M | |
| Bitcoin held after | 632,457 BTC | |
| ATM capacity left | $16.73B | as of Aug 24 |
| ATM capacity left · STRC | $4.20B | as of Aug 24 |
| ATM capacity left · STRD | $4.17B | as of Aug 24 |
| ATM capacity left · STRF | $1.82B | as of Aug 24 |
| ATM capacity left · STRK | $20.41B | as of Aug 24 |
| ATM net proceeds | $309.9M | as of Aug 24 |
| ATM net proceeds · STRD | $100,000 | as of Aug 24 |
| ATM net proceeds · STRF | $26.6M | as of Aug 24 |
| ATM net proceeds · STRK | $20.4M | as of Aug 24 |
| ATM shares sold | 875,301 shares | as of Aug 24 |
| ATM shares sold · STRC | 0 shares | as of Aug 24 |
| ATM shares sold · STRD | 944 shares | as of Aug 24 |
| ATM shares sold · STRF | 237,336 shares | as of Aug 24 |
| ATM shares sold · STRK | 210,100 shares | as of Aug 24 |
| Average bitcoin cost | $73,527 | as of Aug 24 |
| Total bitcoin cost | $46.50B | as of Aug 24 |
What it changed
Bitcoin held
629,376 BTCbefore
632,457 BTCafter this filing
From the filing
mNAV
1.74xAug 22 close
1.73xpro forma at Aug 22’s prices
1.77xAug 25 close
Enterprise value (diluted market value plus debt and preferreds, minus cash) ÷ bitcoin held. Pro forma: this filing’s bitcoin at the previous close’s prices
Sats per diluted share
198,937Aug 22 close
199,359Aug 25 close
Bitcoin per diluted share × 100 million
Years of preferred dividends covered
125.9 yrsAug 22 close
118.4 yrsAug 25 close
Bitcoin and cash ÷ a year of preferred dividends at current rates (note interest not included yet). A year of dividends went from $584.6M to $588.7M: a new preferred counts once Strategy’s reported cash and bitcoin include the money it raised, and this filing is the first that does
Also that day
Source
Form 8-K filed by Strategy Inc with the SEC, accepted Monday, Aug 25, 2025, 7:59 AM ET. Accession 0000950170-25-111093.
Summary and figures read from the filing by Orange Paper’s filing reader and checked before publishing. Calculations (pro forma and close figures) are ours.