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.