Strategy Inc. reported that its U.S. dollar reserve increased by $525 million to $3.75 billion as of July 26th. 

In a public announcement, the company stated that the reserve provided approximately 2.1 years of dividend coverage.

Strategy’s July 27th regulatory filing noted that the $3.75 billion balance included expected proceeds from at-the-market stock sales that had not yet settled as of July 26th.

Between July 20th and July 26th, Strategy sold 5,429,160 shares of MSTR common stock through its at-the-market offering program. 

The sales generated $544.5 million in net proceeds after commissions. No STRF, STRC, STRK or STRD preferred shares were sold during the period.

Strategy had approximately $22.98 billion of MSTR issuance capacity remaining as of July 26th. 

That figure includes capacity under an additional $21 billion MSTR offering announced in March. 

The filing states that sales under the expanded offering may begin once the company has substantially depleted its existing program.

During the same week, Strategy repurchased 288,930 shares of its variable-rate STRC preferred stock for an aggregate $25 million. It did not repurchase MSTR common stock or any of its other preferred securities.

After the STRC transaction, Strategy had $975 million remaining under its preferred-stock repurchase authorization. The separate $1 billion repurchase authorization for MSTR common stock remained unused.

Strategy neither bought nor sold Bitcoin during the reporting period. Its holdings remained at 843,775 Bitcoin as of July 26th.

The company reported spending approximately $63.69 billion to acquire those holdings, including fees and expenses. Its average acquisition price was $75,476 per Bitcoin.