Strategy added 592 BTC for $39.8 million during the week ending February 22, representing 99.2% of total corporate treasury accumulation — the highest single-company concentration since tracking began, according to BitcoinTreasuries.NET.
The purchase at an average price of $67,286 brings Strategy's total holdings to 717,722 BTC valued at approximately $47 billion. The company funded the acquisition through $39.7 million in common stock sales, a 76% reduction from the prior week's $169 million raise, while issuing zero preferred equity for the third consecutive week.
The remaining sector contributed just 4.6 BTC, all from Hyperscale Data, with two micro-cap companies adding marginal amounts totaling 0.35 BTC. The combined 597 BTC weekly total marks the weakest sector-wide accumulation in 2026, signaling bitcoin's consolidation in the $66,000-$70,000 range has frozen capital deployment across nearly all tracked participants.
Mining companies — typically responsible for 200-400 BTC weekly through operational production — contributed zero, with Bitdeer effectively selling its entire treasury. Mid-tier treasuries like Strive and DDC that maintained 100+ BTC weekly purchases during bitcoin's crash to $63,000 sat out entirely. Micro-cap international treasuries from Spain, Korea, UK and Singapore that collectively deployed 200+ BTC two weeks ago vanished from activity.
Strategy's three-week preferred equity drought signals a fundamental shift in capital structure. The company raised funds through common stock at 0.893x mNAV — a 10.7% discount to bitcoin NAV — rather than issuing STRC, STRK, STRF or STRD perpetual preferred obligations with 10%+ yields.