Leading digital asset treasury Strategy offloaded 3,588 Bitcoin between June 29 and July 5, generating net proceeds of approximately $216 million to fund preferred stock distributions and replenish its US dollar reserve, according to a new SEC filing.

As disclosed, Strategy completed two separate Bitcoin sales last week, first selling 1,363 Bitcoin at an average price of $59,256 and later 2,225 Bitcoin at an average price of $60,773. The disposals reduced the company’s holdings from 847,363 Bitcoin to 843,775 Bitcoin, worth approximately $52 billion at current market prices.

The sales follow Strategy’s board approval of a Bitcoin monetization program permitting up to $1.25 billion in Bitcoin sales to support its USD reserve and capital management strategy. So far this year, the company has sold 3,620 Bitcoin, including the recent 32 Bitcoin sale disclosed in May.

The company also confirmed it made no share sales under its at-the-market (ATM) programme and no share repurchases during the reporting period.

Strategy said its US dollar reserve exceeded $2.5 billion as of July 5. The company added that the full $1.25 billion capacity under its recently announced Bitcoin Monetization Program remains available.

Separately, Strategy reported an $8.32 billion digital asset loss for the second quarter, largely reflecting unrealized losses, while naming CFO Andrew Kang as principal accounting officer following Jeanine Montgomery’s retirement.