Key facts
- Strive raised $85.88 million in total through three ATM sessions between September 21 and 23.
- An estimated 1,001.67 BTC was purchased with the proceeds from these sessions.
- Strategy added 950 BTC in the week of September 14-20, spending $75.7 million.
- In the previous week (September 14-18), Strive purchased 1,355 BTC for $107.7 million.
- Strategy holds 846,000 BTC, acquired for approximately $63.8 billion.
Strive, a Bitcoin treasury company, has successfully raised approximately $86 million through three "at-the-market" (ATM) sessions conducted between September 21 and 23. The funds are earmarked for further Bitcoin accumulation. According to data from BitcoinTreasuries.net, an estimated 1,001.67 BTC was acquired with these proceeds.
During the September 21 session, Strive generated $27.69 million in net ATM proceeds, with an estimated 321.97 BTC purchased at an average price of $86,001. The subsequent session raised $36.08 million, enabling the purchase of an estimated 418.27 BTC at an average of $86,266. On September 23, Strive secured an additional $22.11 million, acquiring an estimated 261.43 BTC at an average of $84,556.00.
This fundraising pace appears to be faster than that of Strategy, another Bitcoin treasury firm. Strategy's preferred stock, STRC, has been trading below its $100 par value since June and has not raised new funds through this channel. Instead, Strategy has focused on buybacks. However, Strategy did manage to add 950 BTC in the week of September 14-20, spending $75.7 million at an average price of $79,670 per BTC.
In the preceding week (September 14-18), Strive had already raised significant capital, purchasing 1,355 BTC for $107.7 million and holding a stake in 26,355 BTC. Strive CEO Matt Cole noted on X that warrant exercises had begun, generating $21.2 million in gross proceeds, with 57.7% of total capital raised coming from ATM proceeds.
These figures suggest a funding deficit for Strategy, which is exploring other liquidity options as its STRC stock performance is unsatisfactory. Strategy currently holds 846,000 BTC, acquired for approximately $63.8 billion at an average cost of $75,416 per BTC.