Hi @FanOfSana ,
Your organization has total storage of 1 TB plus 10 GB per license of eligible plan purchased, plus any Microsoft 365 Extra File Storage add-on purchased. The first image you provided suggests that the total and available storage space for your organization. Your entire organization has 3.58TB of space and it has all been allocated to site collections.
You can Go to Active sites in the SharePoint admin center, and sign in with an account that has admin permissions for your organization to view it.
The second image (site collection storage metrics) shows the total and available storage for a site collection.
This can be changed. The max value you can enter is 25600 GB.
Reference:https://learn.microsoft.com/en-us/sharepoint/manage-site-collection-storage-limits
By default, SharePoint storage is available in a central pool from which all sites can draw. Changing the storage limit of sites won't change the available storage space for the whole organization (i.e., the total storage for your organization won't be changed, and the available storage for your organization won't be changed).
Based on the situation, you need to delete SharePoint files to free up storage, like emptying the Recycle Bin of each site. Also, your admin can purchase an unlimited amount of additional SharePoint storage.
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