Strategy Inc (MSTR) details $1.25B ATM proceeds and expanded bitcoin holdings
Rhea-AI Filing Summary
Strategy Inc provided an update on recent activity under its at-the-market equity offering and its bitcoin holdings. Between January 5 and January 11, 2026, the company sold 1,192,262 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) for a notional value of $119.2M, generating net proceeds of $119.1M, and 6,827,695 shares of its Class A common stock (MSTR) for net proceeds of $1,128.5M. Total net proceeds across the ATM update were $1,247.6M.
Over the same period, Strategy acquired 13,627 bitcoin at an aggregate purchase price of $1,247.1M, or an average of $91,519 per bitcoin, using proceeds from STRC and MSTR sales. As of January 11, 2026, it held 687,410 bitcoin with an aggregate purchase price of $51.80B and an average purchase price of $75,353. The company also highlighted its public website dashboard as a key channel for ongoing disclosures about its securities, bitcoin activity, and other metrics.
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Insights
Large ATM equity sales funded substantial bitcoin purchases, deepening Strategy’s crypto exposure.
Strategy Inc reported sizable use of its at-the-market program, with net proceeds of $119.1M from STRC preferred shares and $1,128.5M from MSTR common stock over the January 5–11, 2026 period. This indicates active issuance of both preferred and common equity, which expands the capital base and alters the mix between debt-like preferred securities and common equity.
The company directed these proceeds into bitcoin, acquiring 13,627 BTC for an aggregate $1,247.1M at an average price of $91,519 per bitcoin. As of January 11, 2026, holdings reached 687,410 BTC with a total purchase cost of $51.80B and a blended average purchase price of $75,353, underscoring a concentrated strategy tied to bitcoin price movements.
This combination of ongoing equity issuance and growing bitcoin holdings means future financial results and balance sheet metrics will be closely linked to bitcoin market dynamics disclosed in subsequent company updates and dashboard data.
8-K Event Classification
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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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:
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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 January 12, 2026, 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 January 5, 2026 to January 11, 2026 |
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As of January 11, 2026 |
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Security |
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Shares Sold (1) |
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Notional Value (in millions) (2) |
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Net Proceeds (in millions) (3) |
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Available for Issuance and Sale (in millions) |
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STRF Stock |
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- |
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$ |
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$ |
- |
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$ |
1,619.3 |
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10.00% Series A Perpetual Strife Preferred Stock |
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STRC Stock |
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1,192,262 |
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$ |
119.2 |
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$ |
119.1 |
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$ |
3,923.1 |
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Variable Rate Series A Perpetual Stretch Preferred Stock |
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STRK Stock |
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- |
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$ |
- |
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$ |
- |
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$ |
20,335.0 |
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8.00% Series A Perpetual Strike Preferred Stock |
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STRD Stock |
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- |
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$ |
- |
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$ |
- |
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$ |
4,014.8 |
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10.00% Series A Perpetual Stride Preferred Stock |
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MSTR Stock |
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6,827,695 |
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$ |
- |
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$ |
1,128.5 |
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$ |
10,256.7 |
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Class A Common Stock |
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Total |
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$ |
1,247.6 |
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(1) Includes shares sold but not yet settled as of January 11, 2026.
(2) The total face value of the shares of preferred stock sold, which is used to calculate dividends thereon.
(3) Net proceeds are presented net of sales commission.
BTC Update
On January 12, 2026, Strategy announced updates with respect to its bitcoin holdings:
During Period January 5, 2026 to January 11, 2026 |
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As of January 11, 2026 |
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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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13,627 |
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$ |
1,247.1 |
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91,519 |
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687,410 |
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51.80 |
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$ |
75,353 |
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(1) The bitcoin purchases were made using proceeds from the sale of shares of STRC Stock and MSTR 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: January 12, 2026 |
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Strategy Inc (Registrant) |
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By: |
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/s/ Thomas C. Chow |
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Name: |
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Thomas C. Chow |
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Title: |
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Executive Vice President & General Counsel |
FAQ
How much stock did Strategy Inc (MSTR) sell under its ATM program in early January 2026?
Between January 5 and January 11, 2026, Strategy Inc sold 1,192,262 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) for a notional value of $119.2M and net proceeds of $119.1M, and 6,827,695 shares of its Class A common stock (MSTR) for net proceeds of $1,128.5M. Total net proceeds reported for the period were $1,247.6M.
What are Strategy Inc’s total bitcoin holdings as of January 11, 2026?
As of January 11, 2026, Strategy Inc held 687,410 bitcoin. The aggregate purchase price of these holdings was $51.80B, and the average purchase price across all holdings was $75,353 per bitcoin, inclusive of fees and expenses.
How much bitcoin did Strategy Inc buy during January 5–11, 2026 and at what price?
During the period from January 5 to January 11, 2026, Strategy Inc acquired 13,627 bitcoin at an aggregate purchase price of $1,247.1M. The average purchase price during this period was $91,519 per bitcoin, inclusive of fees and expenses.
How does Strategy Inc fund its bitcoin purchases according to this update?
The update states that the bitcoin purchases made during the January 5–11, 2026 period were funded using proceeds from the sale of shares of STRC Stock and MSTR Stock under Strategy’s at-the-market offering program.
What is the remaining capacity under Strategy Inc’s ATM for its key securities?
As of January 11, 2026, the reported remaining amounts available for issuance and sale under the ATM were $3,923.1M for STRC Stock, $10,256.7M for MSTR Stock, $1,619.3M for STRF Stock, $20,335.0M for STRK Stock, and $4,014.8M for STRD Stock.
Where does Strategy Inc (MSTR) provide ongoing information on its securities and bitcoin holdings?
Strategy Inc maintains a public dashboard on its website at www.strategy.com. The company uses this dashboard to share information on market prices of its outstanding securities, bitcoin purchases and holdings, certain key performance indicators, and other supplemental information, and identifies it as one means of complying with Regulation FD disclosure obligations.