Briefly
- Since May 7, Empery Digital has sold 1,400 bitcoins for approximately $87.1 million, cutting its BTC treasury by nearly half.
- The firm has paid off $10 million in debt, financed a pending real estate acquisition and covered legal costs related to ongoing shareholder litigation.
- As of July 10, the company holds 1,514 BTC and approximately $73.9 million in cash.
Empery Digital Inc. sold almost half of my Bitcoin The Treasury has been using the funds since early May to pay down debt, prepare to acquire AI-related real estate and pay mounting legal bills related to a shareholder lawsuit, according to an SEC report released this week.
The company said it has sold 1,400 BTC since May 7 at an average price of about $62,200 per coin, generating approximately $87.1 million in gross proceeds. Of that amount, $10 million went toward paying off the outstanding debt on July 7. The remainder is intended for the previously announced acquisition of real estate (pending completion of the purchase agreement), as well as to cover legal expenses related to shareholder litigation disclosed in the company’s most recent quarterly report, as well as general operating expenses.
Real estate deal worth $65 million. announced June 30We are talking about “a 25% ownership (interest) in a private company that is acquiring a strategically located facility in the Midwest that will be converted into a state-of-the-art artificial intelligence data center.”
As of Thursday, Empery Digital held 1,514 BTC, currently valued at nearly $96.5 million, and approximately $73.9 million in cash, with $45 million still outstanding on its debt obligation, the filings show.
Decipher reached out to Empery Digital for comment on the sale and whether it would impact the firm’s financial strategy going forward, but did not immediately receive a response.
The disclosure provides insight into how corporate Bitcoin holders are increasingly viewing their cryptocurrency reserves as a source of liquidity, selling positions to meet routine financial obligations rather than holding the asset solely as a long-term investment.
The most striking example is the Bitcoin giant. Latest sales strategy of its $54 billion BTC holdings, which were made to incentivize dividend payments on preferred stock offerings in an attempt to allay concerns about the company’s ability to meet its financial obligations. Such concerns helped reduce the price StrategyMSTR common stock and STRC preferred stock in recent weeks.
The shareholder litigation mentioned in the document was previously outlined in Empery Digital’s quarterly report for the period ended March 31, although the company did not detail specific legal costs in a disclosure this week. The statement did not indicate a timeline for completing the property acquisition or resolving the ongoing litigation.
Shares of Empery Digital (EMPD) were up about 2% on Friday, according to data from Yahoo Financerecently trading at $3.87. The stock is up more than 14% over the past month but is down about 15% this year.
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