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Strategy 8-K Report, Regulation FD Disclosure (Oct 27, 2025)

Reports
Regulation FD·Other Events
Filing Date
Filed October 27, 2025
Period End
October 27, 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 October 27, 2025. Cited figures are marked; the original filing is the authoritative source.

Strategy Inc (MSTR) disclosed in an 8-K filed October 27, 2025 that, for the period October 20 to October 26, 2025, it sold shares under its at-the-market (ATM) preferred stock programs and used the proceeds to buy bitcoin.

Across the STRF, STRK and STRD ATM programs, the company sold 175,634 STRF shares, 191,404 STRK shares and 87,462 STRD shares. The filing reports total net proceeds of $43.4 milliona from these sales. The STRC and MSTR ATM programs had no sales in the period.

The company bought 390 bitcoin during the period for an aggregate purchase price of $43.4 millionb, at an average price of $111,117 including fees and expenses. As of October 26, 2025, Strategy held 640,808 bitcoin with an aggregate purchase price of $47.44 billion and an average purchase price of $74,032. The filing states that the bitcoin purchases were funded by the STRF, STRK and STRD ATM programs.

Remaining capacity under the programs as of October 26, 2025 was $1,668.4 millionc for STRF, $20,345.0 million for STRK, $4,136.1 million for STRD, $4,200.0 million for STRC and $15,908.8 million for MSTR common stock. Strategy also stated that its website dashboard (www.Strategy.com) is a Regulation FD disclosure channel, and that information furnished under Item 7.01 is not deemed filed for Section 18 purposes.

02—Key points

Key Highlights

  1. Bitcoin holdings reached 640,808 BTC as of October 26, 2025, with an aggregate purchase price of $47.44 billion and an average purchase price of $74,032 (inclusive of fees and expenses).
  2. The company acquired 390 bitcoin during October 20 to October 26, 2025, for an aggregate purchase price of $43.4 million at an average price of $111,117.
  3. Bitcoin purchases were funded by proceeds from the STRF, STRK and STRD ATM programs, which together generated $43.4 million in net proceeds during the period.
  4. STRK ATM sold 191,404 shares ($19.1 million notional, $17.0 million net proceeds), the largest share count of the three active programs.
  5. STRF ATM sold 175,634 shares ($17.6 million notional, $19.4 million net proceeds) and has $1,668.4 million remaining capacity.
  6. STRD ATM sold 87,462 shares ($8.7 million notional, $7.0 million net proceeds) with $4,136.1 million remaining capacity.
  7. No sales occurred under the STRC ATM ($4.2 billion program, $4,200.0 million available) or the MSTR common stock ATM ($15,908.8 million available) during the period.

03—Questions

Frequently Asked Questions

  1. How much bitcoin does Strategy hold after this update?

    As of October 26, 2025, Strategy's aggregate bitcoin holdings were 640,808 BTC, with an aggregate purchase price of $47.44 billion and an average purchase price of $74,032, inclusive of fees and expenses.

  2. How was the bitcoin purchased in this period funded?

    The filing states that the 390 bitcoin acquired between October 20 and October 26, 2025 were purchased using proceeds from the STRF, STRK and STRD ATM programs.

  3. Which preferred stock ATM programs were active during the period?

    The STRF, STRK and STRD ATM programs recorded share sales during the October 20 to October 26, 2025 period. The STRC ATM and MSTR common stock ATM recorded no sales.

  4. How much capacity remains under the ATM programs?

    As of October 26, 2025, the filing reports $1,668.4 million available for STRF, $20,345.0 million for STRK, $4,136.1 million for STRD, $4,200.0 million for STRC and $15,908.8 million for MSTR common stock.

04—Continue

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