The purchase came on the heels of Strive's upsized follow-on offering, raising $225 million and clearing most of its debt from the Semler Scientific acquisition.
Strive, backed by Vivek Ramaswamy, has added about 334 Bitcoin to its portfolio, bringing total holdings to 13,132 BTC, worth around $1.2 billion, the company announced Wednesday.
The purchase pushes Strive ahead of CleanSpark to become the 10th-largest holder of Bitcoin, according to BitcoinTreasuries.NET.
The acquisition came after Strive closed an upsized follow-on offering, which raised $225 million and allowed the company to pay down most of its Semler Scientific acquisition debt. The company saw demand for its offering exceed $600 million, far surpassing the $150 million target.
Of the $120 million debt assumed from Semler Scientific, Strive has retired $110 million, including a $20 million loan from Coinbase Credit, and expects to retire the remaining $10 million by April 2026, as noted by the firm.
“Strive continues to demonstrate leading execution in managing a world-class, Bitcoin-powered treasury, retiring over 90% of the Semler legacy debt just 11 days after closing the Semler acquisition,” said Matt Cole, Chairman and CEO.
Strive reported a 37.2% amplification ratio, with 97.7% coming from preferred equity, and a quarter-to-date Bitcoin yield of 21.17%.
“In just over four months, Strive has scaled from zero Bitcoin to become a top-10 publicly traded holder of Bitcoin,” said Ben Werkman, Chief Investment Officer.
