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Strategy 8-K Report, Regulation FD Disclosure (Aug 25, 2025)

Reports
Regulation FD·Other Events
Filing Date
Filed August 25, 2025
Period End
August 25, 2025
In the record · 2016–202610-K1110-Q338-K265

MSTR filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 265 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jul ’20Jul ’20
  2. Material agreement8-K · Sep ’22Sep ’22
  3. Leadership change8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed August 25, 2025. Cited figures are marked; the original filing is the authoritative source.

On August 25, 2025, Strategy Inc (MSTR) filed an 8-K under Items 8.01 and 7.01 reporting updates on its at-the-market (ATM) offering programs and its bitcoin holdings for the period August 18 to August 24, 2025.

During that week, the Company sold 875,301 MSTR Shares under its Common ATM for $309.9 milliona in net proceeds, 210,100 STRK Shares for $20.4 million in net proceeds under the STRK ATM, and 237,336 STRF Shares for $26.6 million under the STRF ATM, plus 944 STRD Shares for $0.1 million under the STRD ATM. The STRC ATM had no sales in the period. The filing shows a total of $357.0 million of notional value across the programs for the period, with remaining availability of $16,732.4 million under the Common ATM, $20,410.4 million under the STRK ATM, $1,821.8 million under the STRF ATM, $4,169.8 million under the STRD ATM and $4,200.0 million under the STRC ATM.

On the bitcoin side, the Company acquired 3,081 BTC during the period for an aggregate purchase price of $356.9 millionb, funded by proceeds from the MSTR, STRK and STRF ATM programs. As of August 24, 2025, aggregate bitcoin holdings were 632,457 BTC, with an aggregate purchase price of $46.50 billion and an average purchase price of $73,527 per bitcoin, with purchase prices stated as inclusive of fees and expenses.

The Item 7.01 disclosure notes that the Company maintains a dashboard at www.Strategy.com as a channel for broad, non-exclusionary distribution of information, including market prices, bitcoin purchases and holdings and KPI metrics, and as one means of Regulation FD compliance. The Item 7.01 information is furnished rather than filed for purposes of Section 18 of the Exchange Act.

02—Key points

Key Highlights

  1. Bitcoin holdings: 632,457 BTC as of August 24, 2025, with an aggregate purchase price of $46.50 billion and an average purchase price of $73,527.
  2. Weekly bitcoin purchases: 3,081 BTC acquired during August 18 to August 24, 2025, for an aggregate purchase price of $356.9 million, funded by the MSTR, STRK and STRF ATM programs.
  3. Common ATM (MSTR Shares): 875,301 shares sold during the period, with $309.9 million in net proceeds, leaving $16,732.4 million available under the $21 billion program established May 1, 2025.
  4. Preferred ATM activity: STRK ATM sold 210,100 shares ($20.4 million net proceeds), STRF ATM sold 237,336 shares ($26.6 million net proceeds), and STRD ATM sold 944 shares ($0.1 million net proceeds).
  5. STRC ATM: no shares sold during the period; $4,200.0 million remained available under the $4.2 billion program established July 31, 2025.
  6. Total notional value across ATM programs for the period was $357.0 million, per the filing.
  7. Dashboard disclosure: the Company uses its website dashboard at www.Strategy.com as a Regulation FD disclosure channel, and the Item 7.01 information is furnished rather than filed.

03—Questions

Frequently Asked Questions

  1. How much bitcoin did Strategy acquire in the week ended August 24, 2025, and how was it funded?

    Strategy acquired 3,081 BTC for an aggregate purchase price of $356.9 million, inclusive of fees and expenses. The filing states the purchases were made using proceeds from the MSTR ATM, STRK ATM and STRF ATM programs.

  2. What is Strategy's total bitcoin position and average cost?

    As of August 24, 2025, aggregate holdings were 632,457 BTC, with an aggregate purchase price of $46.50 billion and an average purchase price of $73,527 per bitcoin, inclusive of fees and expenses.

  3. How much capital did the at-the-market programs raise during the period?

    The filing shows net proceeds of $309.9 million from the Common ATM (MSTR Shares), $20.4 million from the STRK ATM, $26.6 million from the STRF ATM and $0.1 million from the STRD ATM, with total notional value of $357.0 million across programs. The STRC ATM had no sales in the period.

  4. How much capacity remains under the ATM programs?

    As of August 24, 2025, the filing reports $16,732.4 million available under the Common ATM, $20,410.4 million under the STRK ATM, $1,821.8 million under the STRF ATM, $4,169.8 million under the STRD ATM and $4,200.0 million under the STRC ATM.

  5. What do the preferred stock ATM programs represent?

    The filing describes STRK as 8.00% series A perpetual strike preferred stock, STRF as 10.00% series A perpetual strife preferred stock, STRD as 10.00% series A perpetual stride preferred stock, and STRC as variable rate series A perpetual stretch preferred stock. Notional value reflects the face value of preferred shares sold, which is used to calculate dividends.

04—Continue

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