Nasdaq-listed Empery Digital disclosed in an 8-K filing dated July 10 that it has sold 1,400 bitcoin since May 7 at an average price of about $62,200, generating roughly $87.1 million in proceeds. The company said the cash will be used for two purposes: repaying $10 million in debt and funding a $65 million AI data center project. In return for that investment, Empery will receive a 25% equity stake in a project affiliated with Hunt Properties, with the industrial site set to be converted into an AI data center campus. Empery previously shifted its business model in July last year, moving from electric sport vehicle manufacturing to a bitcoin treasury strategy. It raised more than $500 million and accumulated over 4,000 BTC, placing it among the top 25 public company holders of bitcoin, according to the report cited by The Block.
Nasdaq-listed Empery Digital has sold 1,400 BTC since May 7 at an average price of about $62,200, raising roughly $87.1 million, according to The Block, which cited an 8-K filing the company submitted on July 10.
The company said the proceeds will go toward repaying $10 million in debt and financing a $65 million AI data center project. In exchange, Empery will obtain a 25% equity stake in a Hunt Properties-affiliated project. The industrial site is set to be redeveloped into an AI data center campus.
Empery switched from an electric sport vehicle manufacturer to a bitcoin treasury company in July last year. It raised more than $500 million and built a bitcoin position of more than 4,000 BTC, putting it among the top 25 public company bitcoin holders.
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