Empery Digital dumps half of its Bitcoin holdings and pivots to AI data centers; the stock price briefly surged by more than 4%

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BlockBeats message: On July 12, Bitcoin reserve company Empery Digital (EMPD) disclosed that it sold 1,400 BTC in the past two months, at an average selling price of $62.2k, for total cash proceeds of about $87.1 million. The funds are being used to invest in AI data center projects and repay debts.

Of this, part of the funds will be used to acquire a 25% equity stake in an AI data center project, and another $10 million will be used to repay outstanding debt. After this sale, Empery Digital’s Bitcoin holdings fell by 48%. It currently holds 1,514 BTC, which is valued at about $97 million based on the current price.

Affected by the news, EMPD’s share price rose by 4.2% at the open but ultimately closed up 1.58%. The market believes investors have a positive attitude toward the company converting part of its Bitcoin reserves into AI infrastructure investment.

BTC-0.19%
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