Strive’s SATA preferred stock absorbed an estimated 453 BTC in a single day, representing about 101% of the daily bitcoin mining supply, and marked the first full-supply absorption event since May 14. Trading volume reached roughly 384,000 shares through Strive’s at-the-market program, on the biggest volume day in SATA history. The total of about 408 BTC surpassed the prior single-day record of about 404 BTC, with additional BTC coming from secondary market sellers. After Bitcoin’s April 2024 halving, miners produce about 450 BTC per day. SATA carries a 13% annual dividend and will begin daily cash distributions starting June 16. When SATA trades at or above $100 par, Strive issues new shares via its ATM program and converts proceeds into bitcoin, committing not to issue below $100 par to concentrate buying pressure during demand-driven windows.
"The firm has publicly committed to not issuing SATA below $100 par, concentrating buying pressure into windows when demand pushes the stock above that threshold. On Tuesday, demand did exactly that, and the ATM engine ran at full throttle."
#bitcoin-treasury #preferred-stock-sata #at-the-market-atm-issuance #bitcoin-mining-supply #dividend-distributions
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