Strategy's latest disclosure shows its USD Cash fell 60% to $640.5 million on October 11 from $1.61 billion on August 30. According to NS3.AI, the company spent most of the cash on buybacks of STRC, its ultra-high-yield dividend stock.

If the average spending pace continues without replenishment, the USD Cash would run out in about four weeks. Strategy also held a separate $4.88 billion USD Reserve on October 11 for bond coupons and dividend payments, and the two cash balances together declined about 18% over the period.