Four tickers, four different research questions
MSTR, COIN, MARA, and IBIT all carry Bitcoin exposure, but the filings, economics, and risk profiles that matter for each are almost entirely different.
Sawse Research
Research notes across crypto equity, filings, insider activity, ETF wrappers, and market context, written from the records outward.
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Strategy added 22,305 Bitcoin in one week, funded entirely through ATM equity sales
The January 20 8-K shows Strategy's largest single-week Bitcoin purchase in recent filings, pushing aggregate holdings to 709,715 BTC at an average cost of $75,979 per coin.
MSFT's December quarter: Azure is the story, and the risk factors say so too
Microsoft's January 2026 10-Q shows a cloud platform under pressure to justify its AI capital spending, with eight new risk factors and a price chart that has spent most of the past year retreating from its 2025 highs.
NOW's 10-K lands with a stock down nearly 50% from its year-ago price
ServiceNow's annual filing shows a business still growing subscriptions while its equity has been cut in half over twelve months.
META's 10-K puts AI spending and risk-factor rewrites at the center of the 2025 story
META's annual filing for fiscal 2025 shows a company rewriting its own risk language while carrying an elevated disclosure intensity that demands a close read.
MSTR's February 8-K: an Other Events filing with thin disclosure
Strategy filed an Item 8.01 8-K on February 2, 2026, but the document's public-facing content is limited to a forward-looking statement disclaimer and an exhibit reference.
AMD's 10-K lands with a filing-risk signal that matches the moment
AMD's annual report arrives as the stock has more than doubled year-to-date, and the filing's disclosure intensity reflects just how much the AI accelerator story has changed the company's risk profile.
IREN's December quarter filing puts fleet scale and power economics at the center
IREN's February 2026 10-Q covers a period when the company's Bitcoin miner profile was expanding fast, making production economics and liquidity the two variables that matter most.
GOOG's 10-K carries a risk-factor rewrite that the headline revenue number obscures
Alphabet's annual filing shows 24 risk-factor changes and a disclosure intensity that demands more attention than the $109.9 billion quarterly revenue figure.
Oracle raises $5 billion in mandatory convertible preferred stock
Oracle's February 8-K discloses a 100 million depositary share offering of 6.50% Series D Mandatory Convertible Preferred Stock, closing February 5, 2026.
CleanSpark's December quarter filing shows a miner running hard into a fear-dominated tape
CLSK's February 10-Q covers a quarter where fleet growth and Bitcoin holdings matter more than any single earnings line.
Strategy added 1,142 BTC last week and still has $8 billion of ATM capacity left
The February 9 8-K shows a modest weekly purchase funded entirely by common stock ATM sales, with the preferred stock programs untouched and aggregate holdings now at 714,644 BTC.
Robinhood's February 8-K brought a new CFO and a $1.07 billion revenue quarter
Shiv Verma stepped into the CFO seat on February 6, the same day Robinhood reported its strongest quarterly revenue on record.
Shopify's 10-K lands while the stock sits near a 52-week low
The February annual report captures a commerce platform under pressure, with SHOP down more than a third year-to-date and every major moving average pointing lower.
ServiceNow names Fontaine to a new officer role with a $1.25 million RSU anchor
NOW's February 8-K discloses a named officer appointment with a compensation package that signals where the company is placing organizational weight.
Coinbase's 10-K draws the map for a cycle-dependent business in a fear-driven market
The annual filing shows a company whose revenue, risk profile, and equity price are all moving in the same direction as crypto sentiment, and the risk-factor changes confirm management knows it.
AMD's board set Lisa Su's bonus at $3.1 million and tied her long-term equity to a $600 stock price hurdle
The February 2026 8-K discloses fiscal 2025 cash bonuses for AMD's top executives and a new performance equity award for Su with stock price gates that run well above the company's all-time high.
Strategy adds 2,486 BTC in a week, ATM equity is doing the work
The February 17 8-K shows Strategy bought another 2,486 Bitcoin between February 9 and February 16, funded entirely through ATM share sales, pushing aggregate holdings to 717,131 BTC.
ServiceNow's CEO just committed $3 million of his own money to NOW stock
Bill McDermott's February 27 open-market purchase is a named-executive buy at a moment when NOW has shed roughly 30% year to date.
PANW's 10-Q lands while the stock sits at a 52-week high
The February quarterly filing arrives as PANW trades near its highest level in a year, with elevated disclosure intensity and a risk-factor profile that has shifted materially since last summer.
HOOD's 10-K captures a platform at a crypto-cycle crossroads
Robinhood's annual report lands with a ceiling-level Filing Risk Score and a stock down more than a third year-to-date, making the crypto revenue mix the central read.
Core Scientific handed Two Seas three board seats and a standstill
A cooperation agreement signed February 18 gives activist investor Two Seas Capital LP staged influence over CORZ's board through 2027.
Core Scientific hands Two Seas three board seats and a standstill
CORZ's February 18 cooperation agreement with Two Seas Capital gives an activist investor staged board representation through 2027 in exchange for a one-year standstill.
MSTR's 10-K draws the line between the old software company and the new Bitcoin holding structure
The February 2026 annual report formalizes a business model where risk factors, capital structure, and investor identity all orbit Bitcoin rather than enterprise software.