Bitcoin treasury company Strive increased its holdings by more than 11% last week, using proceeds from warrant exercises to expand its cryptocurrency reserves while increasing Bitcoin exposure per share.
In a Tuesday filing with the SEC, Strive disclosed that it purchased 3,311 BTC during the week ending Oct. 9 at an average price of roughly $84,500 per coin
The purchases brought its total holdings to 32,773 BTC, making it the fifth-largest publicly traded corporate Bitcoin holder. CEO Matt Cole said investors exercised $208 million in warrants, with about $15.3 million still outstanding ahead of Tuesday’s expiration. Strive also amended its governing documents to establish a binding $100 minimum issuance price for its SATA preferred shares, which were trading at $99.40.
Meanwhile, Bitcoin traded near $83,300, below Strive’s average purchase price for the week, while its common stock, ASST, was little changed at $27.52. Bitcoin mining companies expanding into artificial intelligence and high-performance computing face a widening gap in borrowing costs as lenders examine the risks of large-scale data center projects. According to BlocksBridge Consulting’s Miner Weekly, securing AI customers is only part of the challenge.