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Strategy Inc (MSTR) announced updates to its at-the-market offering programs and bitcoin holdings for the period September 15-21, 2025, according to information filed with regulators.
The company sold 173,834 shares of its 10.00% series A perpetual preferred stock (STRF shares) during the week, generating $17.4 million in notional value and $19.4 million in net proceeds after sales commissions. The STRF ATM program, established May 22, 2025, has $1.73 billion remaining available for issuance.
Strategy did not sell any shares from its other at-the-market programs during the period, including its STRC shares ($4.2 billion available), STRK shares ($20.37 billion available), STRD shares ($4.15 billion available), or MSTR common stock ($16.03 billion available).
The company used proceeds from share sales to acquire 850 bitcoin during the week for an aggregate purchase price of $99.7 million, at an average price of $117,344 per bitcoin. As of September 21, 2025, Strategy held 639,835 bitcoin with an aggregate purchase price of $47.33 billion and an average purchase price of $73,971 per bitcoin.
Strategy maintains multiple at-the-market programs totaling over $52 billion in aggregate capacity across various preferred stock classes and common stock. The company has established these programs at different times throughout 2025, with the earliest dating to March 10, 2025.