Empery Digital has sold 1,400 Bitcoin (BTC) since early May, cutting its Bitcoin holdings by roughly 48%. The sale raised about $87.1 million as the Nasdaq-listed firm pivots toward AI infrastructure.

The company sold at an average price of $62,200 per token, according to a securities filing. It joins a growing list of treasury firms trimming Bitcoin to fund other priorities.

Empery Digital Cuts Bitcoin Holdings to Repay Debt

Empery Digital disclosed the sales in a July 10 filing with the Securities and Exchange Commission. The company began selling after May 7.

It repaid $10 million of debt on July 7. Empery set aside the rest for a planned property deal and legal costs tied to shareholder litigation.

As of July 10, the firm held 1,514 BTC and roughly $73.9 million in cash. It still owes $45 million on its debt facility.

The selling is not new. Empery began offloading Bitcoin in February to buy back shares and repay its Two Prime Lending facility.

By early April, it had already sold hundreds of coins in weekly batches, including 370 in one week. The pace accelerated as Bitcoin slipped from its highs.

EMPD Stock Holds Near a 52-Week Low

Investors reacted calmly. EMPD traded around $3.83 on Friday, up less than 1%, after an early spike to $3.96 faded. The shares still sit about 75% below their 52-week high of $15.80.

At that level, the market values Empery near $108 million. That trails the roughly $126 million of Bitcoin and cash on its books, net of debt. The gap has dogged other Bitcoin treasury companies.

Activist investors have seized on the discount. In April, 12% shareholder Tice Brown urged the board to restart maximum daily buybacks. Empery has funded past buybacks by selling Bitcoin, the very approach the activists want expanded.

Bitcoin Treasury Firms Pivot to AI Infrastructure

The retreat extends past Empery. MicroStrategy has reduced its Bitcoin holdings after years of buying. Nasdaq-listed miner Riot has sold Bitcoin to fund its own AI data center build.

On June 29, Empery announced a $65 million investment for a 25% stake in a Midwest facility. The deal is set to close in the third quarter.

The site carries about 150 megawatts of power and could expand to 300. Its partner, Hunt Properties, was formed to manage the holdings of Texas oil tycoon H.L. Hunt’s family. The developer has handled more than $2.5 billion in real estate since 1987.

A non-binding agreement outlines a triple net lease worth up to $1 billion. The tenant would be a global AI hardware leader. Empery also scrapped its Bitcoin treasury dashboard, saying holdings no longer capture its full value.

Bitwise executive Matt Hougan said MicroStrategy’s run as top buyer is likely over, with mining and treasury stocks now trading like AI infrastructure plays.

The lease is still non-binding, and the deal must clear a third-quarter close. For now, Empery has traded a shrinking Bitcoin stack for a bet on the infrastructure powering the AI boom.

Источник: BeInCrypto