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Empery Digital has sold nearly half of its Bitcoin holdings since May, raising about $87.1 million to pay down debt, invest in an AI data center, and cover legal and operating costs.
What's the Scoop?
- The Sale: Empery sold 1,400 BTC since May 7 at an average price of about $62,200, according to an SEC filing this week. It used $10 million to repay debt on July 7. Most of the remaining proceeds are expected to fund a $65 million property deal tied to a Midwest AI data center project, as well as legal expenses from shareholder lawsuits and general business costs.
- Current Position: As of Thursday, Empery held 1,514 BTC worth roughly $96.5 million and about $73.9 million in cash. It still had $45 million outstanding on its debt facility. The company did not respond when asked whether the sales mark a broader change in its
Bitcoin strategy. - Stock Reaction: Empery shares rose on the news, reported Decrypt, with the stock is up more than 14% over the past month but remains down roughly 15% this year.
- The Strategy Parallel: The move resembles recent sales by Strategy, the largest corporate Bitcoin holder. Strategy sold about $215 million in BTC over the past two weeks to fund preferred stock payments and refill its cash reserve. Those sales appear to fall under a separate part of its program and do not count against the additional $1.25 billion it has authorized for building that reserve, meaning Strategy has far more room to sell Bitcoin than the headline limit suggests.
How Strategy Can Sell Billions More in Bitcoin on Bankless
Strategy sold $216M in Bitcoin to fund dividends but still reports full $1.25B reserve capacity. The build-versus-replenish loophole explained.
David Christopher
