Key Takeaways:
Empery Digital sold 1,400 bitcoins for $87.1 million over the past two months, using proceeds to acquire a 25% stake in an AI data center campus and repay $10 million in debt, according to an 8-K filing Friday.
The Nasdaq-listed company, which trades under the ticker EMPD, sold the tokens at an average price of $62,200 since May 7, marking its largest reduction in bitcoin holdings since launching a corporate treasury strategy last year. The sale proceeds will also cover legal expenses, the filing shows.
Empery raised more than $500 million in July 2025 — when it was still known as Volcon, an electric powersports vehicle maker — to pivot into a bitcoin treasury business modeled after Michael Saylor's Strategy playbook. The company amassed more than 4,000 BTC, placing it among the top 25 publicly traded bitcoin holders globally.
The $65 million commitment gives Empery a 25% stake in a Hunt Properties-affiliated venture that is acquiring a power-rich industrial site in the U.S. for conversion into an AI data center campus. As of July 10, the company still holds 1,514 BTC, worth nearly $100 million at current prices, alongside approximately $74 million in cash.
The sale underscores a broader shift among crypto treasury companies that loaded up on bitcoin during the 2024-2025 bull run, only to face pressure from investors to generate tangible returns. Empery's stock rose 1% on Friday but remains down about 18% year-to-date and roughly 82% since it adopted the bitcoin treasury strategy last July.
The move also comes as other digital asset firms face similar scrutiny. Blocksbridge Consulting recently highlighted insider stock sales at TeraWulf, Cipher Digital, Riot Platforms and Core Scientific, as investors question whether the benefits of AI infrastructure transitions will accrue to public shareholders. Tether, the stablecoin issuer, trimmed its stake in Bitdeer after the miner's AI-driven stock rebound.
This article is for informational purposes only and does not constitute investment advice.
