FILINGStrategy (MSTR) · 8-K · accepted Monday, Sep 8, 2025, 7:00 AM ET
Strategy bought 1,955 BTC, bringing its total to 638,460 BTC; raised $217.3M selling common and STRF and STRK
From Strategy’s 8-K, accepted by the SEC on Sep 8, 2025 at 7:00 AM ET, covering Sep 2 to Sep 7.
What it says
Strategy reports ATM sales of STRF, STRK and MSTR and a purchase of 1,955 bitcoin for Sept 2, 7, 2025, bringing holdings to 638,460 BTC.
The numbers
| Bitcoin bought | 1,955 BTC | Sep 2 to Sep 7 |
| Average price | $111,196 | per bitcoin |
| Cost | $217.4M | |
| Bitcoin held after | 638,460 BTC | |
| ATM capacity left | $16.11B | as of Sep 7 |
| ATM capacity left · STRC | $4.20B | as of Sep 7 |
| ATM capacity left · STRD | $4.17B | as of Sep 7 |
| ATM capacity left · STRF | $1.78B | as of Sep 7 |
| ATM capacity left · STRK | $20.39B | as of Sep 7 |
| ATM net proceeds | $200.5M | as of Sep 7 |
| ATM net proceeds · STRF | $11.6M | as of Sep 7 |
| ATM net proceeds · STRK | $5.2M | as of Sep 7 |
| ATM shares sold | 591,606 shares | as of Sep 7 |
| ATM shares sold · STRC | 0 shares | as of Sep 7 |
| ATM shares sold · STRD | 0 shares | as of Sep 7 |
| ATM shares sold · STRF | 104,381 shares | as of Sep 7 |
| ATM shares sold · STRK | 54,558 shares | as of Sep 7 |
| Average bitcoin cost | $73,880 | as of Sep 7 |
| Total bitcoin cost | $47.17B | as of Sep 7 |
What it changed
Bitcoin held
636,505 BTCbefore
638,460 BTCafter this filing
From the filing
mNAV
1.73xSep 5 close
1.72xpro forma at Sep 5’s prices
1.68xSep 8 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
199,856Sep 5 close
200,098Sep 8 close
Bitcoin per diluted share × 100 million
Years of preferred dividends covered
113.5 yrsSep 5 close
115.1 yrsSep 8 close
Bitcoin and cash ÷ a year of preferred dividends at current rates (note interest not included yet). A year of dividends went from $620.8M to $622.3M: 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, Sep 8, 2025, 7:00 AM ET. Accession 0000950170-25-113360.
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.