The primary job of intelligent management is to allocate capital for the long-term benefit of shareholders. 

Issuing stock at a premium to book value (e.g. under our $1Bn ATM) last month and buying back stock (under our $250M Buyback Program) at a discount to book value this month - both are growing book value per share. Saylor calls it “harvesting volatility”.

We are excited about announcing our initial share buyback results and that we are already staking $TON - generating revenues which we intend to grow & compound nicely over time. Full PR by @tonstrat (NASDAQ: $TONX) below.

Happy Friday 😊

https://www.businesswire.com/news/home/20250912905903/en/TON-Strategy-Company-Announces-Initial-Share-Repurchases-Under-%24250-Million-Program-Buying-Below-Treasury-Asset-Value-Per-Share-and-Start-of-Staking