Strategy Inc (MSTR) logs $50M ATM sales; adds 487 BTC
Strategy Inc (MSTR) reported weekly ATM activity and bitcoin purchases.
Rhea-AI Filing Summary
Strategy Inc (MSTR) reported weekly ATM activity and bitcoin purchases. For November 3–9, 2025, the company sold preferred shares under its at-the-market program: STRF 165,614 shares (net proceeds $18.3M), STRC 262,311 shares (net proceeds $26.2M), STRK 50,881 shares (net proceeds $4.5M), and STRD 12,800 shares (net proceeds $1.0M). No Class A common stock (MSTR) was sold. The table shows a total notional value of $50.0M for the period.
Bitcoin holdings increased during the same week. Strategy acquired 487 BTC for an aggregate purchase price of $49.9M, at an average price of $102,557 per bitcoin. As of November 9, 2025, the company reported aggregate bitcoin holdings of 641,692 BTC, with an aggregate purchase price of $47.54B and an average purchase price of $74,079. The filing notes these bitcoin purchases were funded using proceeds from the preferred stock sales under the ATM.
Positive
- None.
Negative
- None.
Insights
Routine ATM usage funded weekly BTC buys; neutral impact.
Strategy Inc provided a one-week snapshot of ATM sales across four listed preferred series and used those proceeds to purchase 487 BTC. The period’s table lists net proceeds by series—STRC $26.2M, STRF $18.3M, STRK $4.5M, STRD $1.0M—and a total notional of $50.0M. No Class A common stock was sold.
The company’s crypto treasury activity shows weekly BTC acquisitions at an average of $102,557, bringing aggregate holdings to 641,692 BTC as of November 9, 2025, with an aggregate purchase price of $47.54B and an average purchase price of $74,079. This links capital raised via preferred stock to crypto purchases, as disclosed.
Actual capital flows depend on ongoing ATM execution and market demand for the preferred series. The cadence and scale of future BTC activity will be visible in subsequent disclosures rather than inferred here.
8-K Event Classification
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Strategy Inc (MSTR) sell under its ATM during Nov 3–9, 2025?
How much did Strategy Inc (MSTR) raise in net proceeds from the ATM that week?
How many bitcoins did Strategy Inc (MSTR) buy during the week and at what price?
What are Strategy Inc’s (MSTR) total bitcoin holdings as of Nov 9, 2025?
How were Strategy Inc’s (MSTR) bitcoin purchases funded?
Did Strategy Inc (MSTR) sell any Class A common stock in this update?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
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(Address of principal executive offices) |
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Registrant’s telephone number, including area code:
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class |
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Trading |
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Name of Each Exchange on which Registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
ATM Update
On November 10, 2025, Strategy Inc ("Strategy") announced an update with respect to sales made under its at-the-market offering program ("ATM") of the following securities:
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During Period November 3, 2025 to November 9, 2025 |
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As of November 9, 2025 |
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Security |
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Shares Sold |
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Notional Value (in millions) (1) |
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Net Proceeds (in millions) (2) |
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Available for Issuance and Sale (in millions) |
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STRF Stock |
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165,614 |
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$ |
16.6 |
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$ |
18.3 |
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$ |
1,641.7 |
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10.00% Series A Perpetual Strife Preferred Stock |
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STRC Stock |
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262,311 |
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$ |
26.2 |
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$ |
26.2 |
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$ |
4,173.8 |
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Variable Rate Series A Perpetual Stretch Preferred Stock |
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STRK Stock |
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50,881 |
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$ |
5.1 |
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$ |
4.5 |
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$ |
20,336.2 |
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8.00% Series A Perpetual Strike Preferred Stock |
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STRD Stock |
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12,800 |
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$ |
1.3 |
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$ |
1.0 |
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$ |
4,132.8 |
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10.00% Series A Perpetual Stride Preferred Stock |
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MSTR Stock |
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- |
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$ |
- |
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$ |
- |
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15,854.4 |
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Class A Common Stock |
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Total |
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50.0 |
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(1) The total face value of the shares of preferred stock sold, which is used to calculate dividends thereon.
(2) Net proceeds are presented net of sales commission.
BTC Update
On November 10, 2025, Strategy announced updates with respect to its bitcoin holdings:
During Period November 3, 2025 to November 9, 2025 |
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As of November 9, 2025 |
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BTC Acquired (1) |
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Aggregate Purchase Price (in millions) (2) |
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Average Purchase Price (2) |
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Aggregate BTC Holdings |
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Aggregate Purchase Price (in billions) (2) |
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Average Purchase Price (2) |
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487 |
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49.9 |
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102,557 |
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641,692 |
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47.54 |
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74,079 |
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(1) The bitcoin purchases were made using proceeds from the sale of shares of STRF Stock, STRC Stock, STRK Stock and STRD Stock under Strategy's ATM.
(2) Aggregate and average purchase prices are inclusive of fees and expenses.
Item 7.01 Regulation FD Disclosure.
Strategy Dashboard
Strategy also maintains a dashboard on its website (www.strategy.com) as a disclosure channel for providing broad, non-exclusionary distribution of information regarding Strategy to the public, including information regarding market prices of its outstanding securities, bitcoin purchases and holdings, certain key performance indicator metrics and other supplemental information, and as one means of disclosing non-public information in compliance with its disclosure
obligations under Regulation FD. Investors and others are encouraged to regularly review the information that Strategy makes public via the website dashboard.
Furnished Information
The information disclosed pursuant to Item 7.01 in this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: November 10, 2025 |
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Strategy Inc (Registrant) |
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By: |
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/s/ W. Ming Shao |
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Name: |
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W. Ming Shao |
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Title: |
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Executive Vice President & General Counsel |