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On May 13, 2026, West Main Self Storage closed a $1.6 million capital raise and deployed the proceeds in a single coordinated transaction. The raise was split 50/50 across two complementary asset classes:
$800,000 into bitcoin — the company acquired 9.6705631 BTC (~967,056,310 satoshis) at an average acquisition price of approximately $82,746 per bitcoin. This single purchase is more than 2x the company's prior cumulative bitcoin position.
$800,000 into STRC — the company acquired 8,000 additional shares of Strategy Preferred Stock at $100.00 per share, bringing total STRC holdings to 10,014 shares ($1,000,000 cost basis, $99.86 weighted average).
The transaction is designed so that the credit asset funds the cost of carry while the savings asset compounds. STRC pays a variable monthly distribution at an annualized rate of approximately 11.5%. On 10,014 shares, that produces an estimated ~$115,000 per year in cash distributions, paid in twelve monthly installments of approximately $9,597.
Those monthly distributions are sized to fully service the interest expense on the $1.6 million obligation funding this transaction. In effect, the income asset pays for the savings asset. From an operating cash-flow perspective, the company has added 9.67 BTC to its balance sheet without diverting cash from its core self-storage operations.
Beyond the cash-flow wash, the structure creates a meaningful tax spread driven by the different IRS treatment of the two legs:
The asymmetry is the point. The company pays a deductible expense and receives a non-taxable cash inflow of roughly the same magnitude. The cash flows offset, but the tax treatments do not — the deduction reduces current-year taxable income, while the offsetting income is deferred (and, when ultimately recognized on disposition, may be characterized as long-term capital gain rather than ordinary income).
This is a classic tax arbitrage: the same dollars are treated as a deductible outflow on the way out and a non-recognized inflow on the way in. The result is a structural tax shield layered on top of an already cash-neutral capital structure.
Following today's acquisition, West Main holds 14.36167582 BTC (~1,436,167,582 satoshis) acquired for an aggregate cost basis of $1,220,000 at a new weighted average price of approximately $84,948 per bitcoin — a meaningful improvement from the prior average of $89,531. Sats per square foot rises from 6,758 to roughly 20,690, more than tripling the bitcoin density of the facility.
Following today's expansion, West Main holds 10,014 shares of Strategy Preferred Stock acquired for $1,000,000 at a weighted average price of $99.86 per share. The position pays a variable monthly distribution at an annualized rate of approximately 11.5%, characterized as Return of Capital for tax purposes. The next distribution is expected on June 1, 2026.
West Main Self Storage is a privately held self-storage facility located at 825 West Main Road, Middletown, Rhode Island. The company operates a Bitcoin treasury strategy alongside its core real estate operations and uses a self-carrying capital structure — pairing Strategy Preferred Stock (STRC) income with debt financing — to accumulate bitcoin without diverting operating cash flow.
For more information, visit westmain.storage/dashboard or contact kenny@westmainselfstorage.com.