Strategy Inc. repurchased approximately 1.81 million shares of its STRC preferred stock for $176.3 million during the period from August 31st through September 7th, according to a Form 8-K filed on September 8th.

The filing also disclosed that Strategy’s board approved an increase in the Digital Credit Securities Repurchase Program from $1 billion to $2 billion. 

The authorization covers commissions, fees, expenses, and repurchases already completed through the program. As of September 7th, $1.19 billion remained available.

STRC is Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock and trades on Nasdaq. The company used $176.3 million of cash to fund the purchases.

Strategy recorded no repurchases of its STRF, STRK, or STRD preferred-stock series during the reporting period. 

It also made no purchases of MSTR common stock, leaving $1 billion available under a separate repurchase program for those shares.

The company did not sell shares through its at-the-market offering program during the week. It also completed no Bitcoin transactions.

Strategy’s bitcoin holdings therefore remained at approximately 845,050 Bitcoin as of September 7th. 

The company reported a total acquisition cost of $63.73 billion, including fees and expenses, and an average purchase price of approximately $75,412 per Bitcoin.

Strategy ended the period with a $5.10 billion U.S. dollar reserve and $1.44 billion in other cash. The company maintains the reserve to support preferred-stock dividend and debt-interest payments. 

It may deploy the remaining cash for Bitcoin acquisitions, additions to the reserve, and other capital-management purposes.

The two cash balances totaled approximately $6.54 billion.