MicroStrategy Inc. said it will use the proceeds of a $1.01 billion sale of convertible senior notes to purchase more Bitcoin and redeem higher yielding securities.

After it unveiled plans to issue Convertible Senior Notes, MicroStrategy has completed a $1.01 billion debt offering to buy more Bitcoin

Cathedra Bitcoin will pivot away from Bitcoin mining to providing general data center services and buying Bitcoin on the open market instead, the company said. Cathedra cited unpredictable profit margins as a cause for the shift.

MicroStrategy plans to issue $700M in convertible notes to redeem older debts and increase its Bitcoin holdings.

MicroStrategy will use the net proceeds from this offering to redeem Senior Secured Notes due 2028 and to acquire additional bitcoin.

Micro Strategy, the popular business intelligence company, invested over $1.1 billion in shares in Bitcoin purchases in just five weeks.

Business intelligence firm MicroStrategy (NASDAQ:MSTR) announced the pricing of its offering of $875 million in convertible senior notes, due in 2028. What Happened: This offering, expected to close by Sep.

MicroStrategy purchased an additional 18,300 bitcoins for $1.11 billion, boosting its total Bitcoin trove to 244,800 BTC acquired for $9.45 billion. The company continues its Bitcoin accumulation strategy,

MicroStrategy, a business intelligence and cloud-based services firm, announced its plans to sell $700 million in senior convertible notes.

MicroStrategy announced the details of its third debt offering of 2024, underlying its commitment to Bitcoin. The technology firm intends to raise $700 million with the issuance of convertible senior notes that will mature in 2028.