Empery Digital has liquidated nearly half of its Bitcoin holdings since early May, raising roughly $87.1 million to shore up the company’s finances and pursue a planned real-estate play tied to AI infrastructure, according to an SEC filing this week.
Key takeaways
- BTC sold: 1,400 BTC sold since May 7 at an average price of about $62,200 per coin, producing ~$87.1 million in gross proceeds.
- Debt repayment: $10 million of the proceeds was used to retire outstanding debt on July 7.
- Strategic acquisition: The remainder is earmarked for a previously announced $65 million deal to buy a 25% stake in a private entity acquiring a strategically located Midwest facility that will be converted into an AI data center (pending completion of a purchase-and-sale agreement).
- Other uses: Funds will also cover legal expenses from shareholder litigation disclosed in Empery’s recent quarterly report, plus general operating costs.
- Current holdings: As of Thursday, Empery holds 1,514 BTC (worth about $96.5 million) and ~$73.9 million in cash, with $45 million still outstanding on its debt facility.
- Market reaction: Empery Digital (EMPD) shares were up roughly 2% on Friday, trading near $3.87; shares are up ~14% over the last month but down ~15% year-to-date.
The filing gives a clear view into a broader trend: corporate Bitcoin treasuries increasingly serve as a liquidity source to meet conventional financial needs rather than being held solely as long-term reserves. A high-profile parallel is MicroStrategy’s recent BTC sales, which the company has used to fund dividend payments for preferred share offerings—moves that rattled investor confidence and pressured its equity and preferred-share prices.
Empery did not immediately respond to outreach from Decrypt about whether this round of sales signals a lasting change in its treasury strategy. The company’s disclosure did not specify timelines for closing the property acquisition or resolving the pending litigation, nor did it break out the exact legal costs tied to the shareholder suit.
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