Strive reports US$100M bitcoin purchase after warrant exercises

A roughly US$100 million bitcoin purchase has followed a warrant exercise that expanded the common share base. Strive, Inc. NASDAQASST NASDAQSATA, the Dallas bitcoin treasury company, reported on Monday that it bought 1,223 bitcoin from Oct. 14 through Oct. 16, taking holdings to 36,818.

The latest purchases averaged US$81,734 per bitcoin, including fees and expenses, according to the Oct. 19 filing. They complete a larger buying period that includes coins already disclosed, reconciling the new purchase with the filing's 4,045-bitcoin weekly total.

Strive's common shares rose about 6.8 per cent to US$25.73 on Nasdaq at 12:14 p.m. EDT on Monday, according to Google Finance's NASDAQASST quote.

The same Oct. 19 filing reports approximately US$369.2 million in gross warrant exercise proceeds and a larger common share base. A separate preferred offering, priced to bring in US$630 million before fees, is scheduled to settle on Oct. 20, subject to customary closing conditions.

The Weekly Total Includes An Earlier Purchase

Strive's Oct. 14 filing had already disclosed purchases of 2,822 bitcoin during Oct. 12 and Oct. 13. That batch averaged US$83,266 per bitcoin, including fees and expenses, above the price of the newly disclosed purchases.

The combined purchases cover Oct. 12 through Oct. 16. Strive reported an average cost of US$82,803 for those 4,045 bitcoin, implying approximately US$335 million spent when the rounded average is multiplied by the coin count.

Cash and cash equivalents stood at US$317.5 million on Oct. 16, compared with US$310.3 million on Oct. 9. These are balance-sheet snapshots rather than a transaction-by-transaction allocation of the warrant proceeds.

Warrant Exercises Expand The Share Base

During Oct. 12 and Oct. 13, holders exercised traditional warrants to buy 13,674,703 Class A shares. The instrument count was 273,493,909 warrants, a separate measure from the number of shares purchased through them.

The Oct. 19 filing identifies the remaining warrants as instruments assumed in the company's September 2025 merger. Those expired unexercised on Oct. 13, ending the outstanding traditional warrant balance.

"As of October 16, 2026, all Traditional Warrants had been exercised or had expired, and no Traditional Warrants remain outstanding," Strive said in its Oct. 19 filing.

The updated share table puts effective common shares at 124,064,126 on Oct. 16, up from 110,387,204 on Oct. 9. Strive defines that measure as the sum of its Class A and Class B common shares.

Class A shares increased by 13,677,703 over the Oct. 9 to Oct. 16 interval, slightly more than the warrant-related share count. The table separately shows a decline of 781 Class B shares over the same interval.

Across those snapshots, bitcoin holdings increased about 12.3 per cent while effective common shares rose about 12.4 per cent. Bitcoin per effective common share was therefore almost unchanged, calculated from the filing's balances, despite the increase in total coins.

Strive's assumed fully diluted share count reached 126,790,020 on Oct. 16. That broader measure includes employee options and unvested stock awards, while the filing displays shares underlying traditional warrants separately.

The Preferred Offering Is Scheduled To Settle On Tuesday

Strive priced seven million shares of its 15 per cent Series A Perpetual SATS Preferred Stock at US$90 each on Oct. 15. The offering carries a US$700 million aggregate stated amount, compared with expected gross cash proceeds of US$630 million before underwriting discounts and other expenses.

That new security is separate from the existing variable-rate SATA preferred stock, which had 14,030,176 shares outstanding on Oct. 16. The existing preferred traded at US$97.31 on Nasdaq at 12:14 p.m. EDT on Oct. 19, according to Google Finance's NASDAQSATA quote.

Bitdeer Technologies Group NASDAQBTDR, the Singapore-based bitcoin miner and AI infrastructure operator, disclosed a different treasury position as of Oct. 16. Its weekly update recorded 294.2 bitcoin produced and sold, leaving pure holdings at zero.

Mugglehead's report on that snapshot detailed the pure holdings definition, which excludes customer deposits. Bitdeer's update disclosed no sale price or dollar proceeds, so its coin tally cannot supply a cash comparison with Strive's purchases.

Read more: Bitdeer Technologies Group sells 294.2 BTC as weekly output falls

Strive's Oct. 19 filing says no SATS shares were outstanding and no proceeds from that offering had been received as of Oct. 16. The next scheduled funding event is the Oct. 20 settlement, subject to customary closing conditions.