Empery Digital sells 1,400 Bitcoin, raises $87 M for AI data

Nasdaq-listed Empery Digital has sold 1,400 Bitcoin since early May, raising approximately $87.1 million to reduce debt and fund a strategic pivot toward artificial intelligence infrastructure. The sales, conducted between May 7 and July 10 at an average price of $62,200 per Bitcoin, mark a significant shift for a company that had previously focused on accumulating the cryptocurrency as a core treasury asset.

According to a securities filing, the company allocated the proceeds to several immediate financial obligations. On July 7, Empery used $10 million to repay a portion of its outstanding debt. A further $65 million is earmarked for a previously announced investment to acquire a 25% stake in a Midwest AI data center project. The remaining funds are intended to cover legal expenses related to ongoing shareholder litigation and support general corporate operations. Following the divestment, Empery's Bitcoin holdings stand at 1,514 BTC, and the company reported a cash position of roughly $73.9 million as of July 10. Approximately $45 million in debt remains outstanding under its facility.

This move represents a departure from the strategy Empery, formerly known as Volcon,...