Empery Digital Sells 1,400 Bitcoin for $87.1M to Fund AI Pivot

Empery Digital sold 1,400 bitcoins for approximately $87.1 million over the past two months at an average price of $62,200 since May 7, according to a Friday filing. The Nasdaq-listed company will use the proceeds to finance its AI infrastructure expansion, repay $10 million in outstanding debt, and cover legal expenses. This represents Empery's largest reduction to its bitcoin holdings to date as the company shifts from its cryptocurrency accumulation strategy toward artificial intelligence investments.

Empery Digital Allocates $87.1 Million Bitcoin Sale Proceeds

The 8-K filing states that Empery will use the cash to repay $10 million in outstanding debt. The company will also help fund a $65 million commitment to an AI data center project. The sale marks a significant departure from the bitcoin accumulation strategy that Empery and dozens of other companies adopted following Michael Saylor's Strategy playbook, which bet on delivering long-term returns to shareholders as leveraged cryptocurrency holders.

Company Commits $65 Million to AI Data Center Project

The $65 million investment will give Empery a 25% stake in a Hunt Properties-affiliated venture acquiring a power-rich industrial site in the U.S. The partners plan to convert the site into an AI data center campus. Empery raised more than $500 million last July to launch its bitcoin treasury business after pivoting from electric powersports vehicles. The company, then known as Volcon, ultimately amassed more than 4,000 BTC, placing it among the top 25 publicly traded bitcoin holders.

Empery Retains 1,514 BTC After Sale

Despite the sales, Empery remains a major corporate bitcoin holder. As of July 10, the company still holds 1,514 BTC, worth nearly $100 million, alongside approximately $74 million in cash. Empery Digital (Nasdaq: EMPD) rose 1% on Friday but remains down nearly 18% year-to-date and approximately 82% since launching its bitcoin treasury strategy last July.

FAQ

How much bitcoin did Empery Digital sell and at what price?

Empery Digital sold 1,400 bitcoins for approximately $87.1 million over the past two months at an average price of $62,200 since May 7.

What will Empery Digital use the bitcoin sale proceeds for?

The company will use the proceeds to repay $10 million in outstanding debt, fund a $65 million commitment to an AI data center project, and cover legal expenses.

How much bitcoin does Empery Digital still hold after the sale?

As of July 10, Empery Digital still holds 1,514 BTC, worth nearly $100 million, alongside approximately $74 million in cash.