Empery Digital Sells 48% of Bitcoin Holdings for $87M to Fund AI Pivot
EMPD sits 20% above its 52-week low of $3.185 on light trading volume (0.3× avg).
Summary
Empery Digital sold 1,400 Bitcoin since early May, raising $87.1 million at an average price of $62,200 per token. The sale cuts its Bitcoin holdings by 48%, leaving 1,514 BTC and $73.9 million in cash. Proceeds repaid $10 million in debt, with the rest earmarked for a property deal and legal costs tied to shareholder litigation. This follows the June 30 announcement of a $65 million AI data center joint venture, signaling a strategic shift away from Bitcoin treasury. The stock trades near $3.83, still 75% below its 52-week high, with the market valuing the company below its net Bitcoin and cash. Activist pressure to close the discount continues, but the pivot to AI infrastructure now dominates the narrative.
At the time of this announcement, EMPD was trading at $3.83 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $107.7M. The 52-week trading range was $3.19 to $44.09. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Beincrypto.