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FILINGStrategy (MSTR) · 8-K · accepted Monday, Feb 23, 2026, 8:00 AM ET

Strategy bought 592 BTC, bringing its total to 717,722 BTC; raised $39.7M selling common

From Strategy’s 8-K, accepted by the SEC on Feb 23, 2026 at 8:00 AM ET, covering Feb 17 to Feb 22.

What it says

Strategy reports ATM activity (only MSTR common sold, 297,940 shares) and acquisition of 592 BTC for Feb 17, 22, 2026, bringing holdings to 717,722 BTC.

The numbers

Bitcoin bought592 BTCFeb 17 to Feb 22
Average price$67,286per bitcoin
Cost$39.8M
Bitcoin held after717,722 BTC
ATM capacity left$7.84Bas of Feb 22
ATM capacity left · STRC$3.54Bas of Feb 22
ATM capacity left · STRD$4.01Bas of Feb 22
ATM capacity left · STRF$1.62Bas of Feb 22
ATM capacity left · STRK$20.33Bas of Feb 22
ATM net proceeds$39.7Mas of Feb 22
ATM net proceeds · STRC$0as of Feb 22
ATM net proceeds · STRD$0as of Feb 22
ATM net proceeds · STRF$0as of Feb 22
ATM net proceeds · STRK$0as of Feb 22
ATM shares sold297,940 sharesas of Feb 22
ATM shares sold · STRC0 sharesas of Feb 22
ATM shares sold · STRD0 sharesas of Feb 22
ATM shares sold · STRF0 sharesas of Feb 22
ATM shares sold · STRK0 sharesas of Feb 22
Average bitcoin cost$76,020as of Feb 22
Total bitcoin cost$54.56Bas of Feb 22

What it changed

Bitcoin held
717,130 BTCbefore
717,722 BTCafter this filing
From the filing
mNAV
1.33xFeb 20 close
1.33xpro forma at Feb 20’s prices
1.34xFeb 23 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
185,828Feb 20 close
185,838Feb 23 close
Bitcoin per diluted share × 100 million
Years of preferred dividends covered
59.2 yrsFeb 20 close
56.5 yrsFeb 23 close
Bitcoin and cash ÷ a year of preferred dividends at current rates (note interest not included yet)

Also that day

The Peel: SATS’s first day: closed at $94.61 · Strive filed two 8-KsWednesday edition

Source

Form 8-K filed by Strategy Inc with the SEC, accepted Monday, Feb 23, 2026, 8:00 AM ET. Accession 0001193125-26-062489.
Read the filing on SEC EDGAR ↗
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.
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Orange Paper reads every Strategy and Strive filing as it lands and checks each figure before publishing. Figures from filings link to SEC EDGAR; our own calculations are labelled. Not investment advice.