Empery Digital, a publicly traded company on Nasdaq, has sold approximately 1,400 BTC as part of a strategic shift to finance investments in artificial intelligence data centers.
The transactions, which occurred since May 7, were executed at an average price of $62,200 each, yielding about $87.1 million in total revenue. Notably, this sale represents nearly 50% of the company's total Bitcoin reserves prior to the transaction.
The company disclosed that $10 million from the proceeds has been allocated to debt repayment as of July 7. The rest of the funds will be directed towards investments in AI-related real estate, legal expenses from shareholder lawsuits, and routine operational costs.
Empery Digital had previously announced plans to invest $65 million to secure a 25% equity stake in a firm aiming to launch an AI data center project in the Midwest of the United States.
As of July 10, Empery Digital reportedly retains 1,514 BTC valued at approximately $96.5 million based on current market prices. Additionally, the firm has about $73.9 million in cash alongside $45 million in outstanding debts.
This recent sale underscores a trend among publicly-traded companies that hold Bitcoin; many are beginning to utilize BTC not just as a long-term investment but also as a liquidity source.
This is not investment advice.
