Shares of Bitcoin treasury company Empery Digital rose on Friday after the firm disclosed it had sold nearly half of its Bitcoin holdings to finance an AI data center project and reduce debt. According to Cointelegraph, Empery Digital (EMPD) shares climbed 4.2% to $3.95 within the first 35 minutes of trading on Friday after the company said it sold 1,400 Bitcoin at an average of $62,200 per coin for roughly $87.1 million over the past two months. The stock later retraced to $3.86, ending the session up 1.58%. Empery, which previously operated as an electric powersports vehicle manufacturer, said part of the proceeds supported its 25% stake in a Hunt Properties-affiliated venture that is acquiring an industrial site to be converted into an AI data center. The company also said $10 million was used to pay off outstanding debt. The early move in the stock price suggested investors viewed the Bitcoin sale positively amid waning confidence in Bitcoin treasury strategies and increased capital flows toward AI.
Empery’s Bitcoin sales followed months of pressure from Tice P. Brown, a near-10% shareholder, who urged the company to abandon its Bitcoin-buying strategy and called for the CEO and entire board to resign. Empery had shifted to a Bitcoin-centric treasury strategy in mid-2025 when Bitcoin was pushing toward its all-time high of $126,080 set in October. The recent sales reduced Empery’s Bitcoin holdings by 48% to 1,514 Bitcoin, worth $97 million at current prices. The company previously held a peak of 4,081 Bitcoin before selling portions of its holdings in March and April. Separately, Strategy, the largest corporate Bitcoin holder, sold 3,588 Bitcoin worth $216 million earlier this month, moving away from its prior “never sell your Bitcoin” stance in a sale that was followed by a rise in its shares. Strategy said it used the proceeds to cover dividend payments for investors in its top perpetual preferred stock offering, Stretch (STRC), after STRC fell below its $100 par value to below $75 last month, raising concerns about the sustainability of its dividend model.
Empery Digital Shares Rise After Selling 1,400 Bitcoin to Fund AI Data Center Stake and Reduce Debt
2026-07-12 01:13:04
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