After their latest bulk purchase of the Bitcoin cryptocurrency, shares in Strategy (MSTR) are up as much as 7% on Monday morning. MicroStrategy continues to aggressively accumulate Bitcoin, purchasing 4,871 BTC for approximately $329.9 million according to a new filing.

According to an 8-K filing with the US Securities and Exchange Commission on Monday, the purchases were made at an average price of $67,718 per coin, below the company’s overall average acquisition price of $75,644. The new acquisitions bring Strategy’s holdings to 766,970 BTC, acquired for a total cost of around $58 billion. Also, the company’s latest acquisition was made with proceeds that overwhelmingly came from Strategy’s variable-rate preferred share, STRC. The Bitcoin-buying firm issued $227 million worth of the dividend-paying product compared to the $72 million worth of common shares last week.

Strategy (MSTR) Reports Losses in Latest Quarter

In addition to the Bitcoin purchase, Strategy (MSTR) also reported its first-quarter financial results, including a $14.46 billion unrealized loss on digital assets and a $2.42 billion deferred tax benefit. As of March 31, the company recorded a $1.73 billion deferred tax asset related to those unrealized losses, which was offset by a corresponding $1.73 billion valuation allowance against the amount.

“Because the fair value of Strategy’s Bitcoin holdings is below its cost basis, Strategy expects to establish an additional valuation allowance of $0.5 billion against these deferred tax assets,” the company said in its release.

Despite the climb on Monday, Strategy (MSTR) stock remains down 4.4% in the last month and a furthr 16% YTD. Furthermore, before Monday’s opening bell, Strategy shares were set to fall 2.4% to around $199, according to Yahoo Finance. Analysts still see significant upside for MicroStrategy, with price targets ranging from $185 to $705, compared to the current market price of $127.