Strategy increased its U.S. dollar reserve by $450 million to $3 billion as of July 12th, according to a regulatory filing released Monday.

The Bitcoin treasury company generated approximately $466.7 million in net proceeds by selling 4,818,781 shares of its MSTR common stock through its at-the-market offering program between July 6th and July 12th. 

Strategy did not sell shares of its STRF, STRC, STRK or STRD preferred stocks during the period.

Strategy said the cash reserve is intended to fund dividend payments on its preferred securities and interest obligations on outstanding debt. 

The reported balance includes anticipated proceeds from ATM transactions that had not yet settled by July 12th.

The company did not purchase any Bitcoin during the week, leaving its holdings unchanged at 843,775 Bitcoin. 

Strategy has spent approximately $63.69 billion acquiring the holdings at an average price of $75,476 per Bitcoin, including fees and expenses.

Strategy also reported that it did not repurchase any shares through its existing buyback programs during the period.