Empery Digital sells 1,400 BTC to fund its AI business transition and repay debts

robot
Abstract generation in progress

ME News update, July 11 (UTC+8). Nasdaq-listed company Empery Digital disclosed in an 8-K filing submitted on July 10 that, starting May 7, it sold 1,400 BTC at an average price of about $62,200, raising approximately $87.1 million. The funds will be used to repay a $10 million debt and to finance a $65 million AI data center project. This investment will give Empery a 25% equity stake in a Hunt Properties-related project, an industrial plot of land that will be converted into an AI data center campus.

Empery last year in July shifted from an electric vehicle manufacturer to a Bitcoin treasury company, raised more than $500 million, and has cumulatively held more than 4,000 BTC, placing it among the top 25 public-company BTC holders. After the sale, it still holds 1,514 BTC (about $99 million) and approximately $74 million in cash. EMPD rose 1% on Friday, but is still down about 18% year-to-date. (Source: PANews)

BTC-0.48%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned