WULFvsMSTR
TeraWulf vs Strategy
Side-by-side Bitcoin treasury comparison: holdings, market cap, mNAV ratio, BTC per share, cost basis, and recent purchases. Numbers refresh every 5 minutes from SEC filings and live market data.
Metric
WULF
MSTR
BTC holdings
18 BTC
843,775 BTC
Market value of BTC
$1.2M
$54.4B
Average cost per BTC
—
$75,476.00
Total cost basis
—
$63.7B
mNAV (market cap ÷ BTC value)
8418.37×
0.64×
Sats per share
4
235.8k
Last disclosed purchase
Feb 27, 2026
- Feb 27, 2026+0 BTC$151.6M
- Sep 30, 2025+0 BTC$1.6M
- Mar 31, 2025+0 BTC$988.2K
- Mar 28, 2025+0 BTC—
- Dec 31, 2024+0 BTC$219.0M
WULF vs MSTR: frequently asked
Which company holds more Bitcoin, WULF or MSTR?▾
Strategy (MSTR) holds 843,775 BTC, compared to TeraWulf's (WULF) 18 BTC — roughly 46876.4× more.
What's the total Bitcoin value on the balance sheets of WULF and MSTR?▾
WULF holds $1.2M worth of Bitcoin at current market prices. MSTR holds $54.4B.
Who has a lower cost basis per BTC, WULF or MSTR?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did WULF last buy Bitcoin?▾
WULF disclosed a 0 BTC purchase on February 27, 2026.
When did MSTR last buy Bitcoin?▾
MSTR disclosed a -3,588 BTC purchase on July 6, 2026.