Its capital raising efforts likely on hold amid the market panic, Strategy (MSTR) did not add to its bitcoin (BTC) holdings last week.

Additionally, the company expects to report a net loss for the first quarter due to a $5.91 billion unrealized loss on its bitcoin holdings, according to a filing Monday morning. This follows the adoption of new accounting rules requiring crypto assets to be marked to market. A $1.69 billion tax benefit is expected to partially offset the loss.

Strategy raised a total of $7.69 billion during the quarter, $4.4 billion of that from common stock sales and the rest from preferred stock issuance. Most or all of those funds were used to purchase bitcoin at far higher prices than the current $77,000.

Indeed, the average purchase price on the company’s 528,185 BTC stack has risen to nearly $67,500, meaning the company is ahead only about 14% on its holdings.

MSTR shares are lower by 9% in early Monday action, now down by 10% year-to-date but still ahead 77% year-over-year.

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