Strategy plans to raise $4.2 billion through STRC stock sales aiming to expand its Bitcoin treasury over time.
The company reports unrealized gains of $14 billion from Bitcoin holdings as part of its Q2 2025 financial results.
Strategy increases its BTC Yield target to 30% after acquiring over 628,791 BTC through multiple offerings.
Strategy has filed with the SEC to raise up to $4.2 billion through a stock offering. The capital will be raised via sales of its STRC stock, a variable-rate preferred share. This move comes just days after the company completed a $2.521 billion raise from STRC's initial public offering.
https://twitter.com/KoenSokros/status/1951128908385976586
According to the filing, Strategy entered a Sales Agreement with multiple financial institutions. These include TD Securities, Barclays Capital, The Benchmark Company, Clear Street, and Morgan Stanley. The STRC stock is listed on Nasdaq and last traded at $94.50 per share. The offering does not have a defined timeline for completion.
Capital Targeted for Bitcoin Accumulation
Strategy plans to use the net proceeds for general corporate purposes. The company emphasized that acquiring more Bitcoin remains one of the intended uses. However, it has not disclosed how much of the funds will go toward purchasing the asset.
This development builds on the company’s rapid expansion in Bitcoin investments. Earlier this week, Strategy used $2.46 billion from its IPO proceeds to buy 21,021 BTC. Its current Bitcoin holdings now total 628,791 BTC. The company acquired the assets at a total cost of $46.8 billion, or an average price of $73,227 per Bitcoin.
Record Financial Results in Q2
Strategy posted strong second-quarter financial results. Operating income reached $14.03 billion, up more than 7,100% year-over-year. This figure includes an unrealized gain of $14 billion on its Bitcoin assets. The company reported total revenue of $114.5 million, a 2.7% increase over last year.
Net income stood at $10.02 billion, or $32.60 per diluted share. In the same quarter last year, Strategy reported a net loss of $0.57 per share. The company attributes the rise in profitability to the application of fair value accounting for digital assets.
Raising Targets for Bitcoin Metrics
Strategy also raised its full-year Bitcoin-related performance targets. It now expects a 30% BTC Yield and $20 billion in BTC Gains. These figures surpass its earlier projections. The company has already exceeded its 25% BTC Yield goal set for the year.
Capital raising through multiple offerings has helped boost the company's Bitcoin per Share (BPS) metric by over 25% year-to-date. Strategy raised $584 million, $723 million, and $1 billion from its STRK, STRF, and STRD offerings respectively.
The STRC offering, now the largest among them, aims to further strengthen the company’s Bitcoin-backed capital structure.
