Strategy has acquired an additional 705 Bitcoin for approximately $75 million, further expanding its position as the largest corporate holder of Bitcoin as more public companies continue to adopt Bitcoin treasury strategies.

According to a Form 8-K filed with the SEC on June 2, the company purchased the Bitcoin at an average price of $106,495 per coin between May 26 and June 1, bringing its total holdings to 580,955 BTC. The acquisition was funded through Strategy’s at-the-market (ATM) equity offerings of perpetual preferred shares.

The company raised $74.6 million by selling a combination of its preferred stock classes, including 353,511 shares of STRK preferred stock for…

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