Empery Digital, a publicly traded company specializing in digital asset investments, has sold 1,400 Bitcoin over the past two months, raising approximately $87.1 million. The company conducted the sales at an average price of $62,200 per Bitcoin between May 7 and early July. This move marks a significant transition away from its previous emphasis on cryptocurrency accumulation toward developing artificial intelligence infrastructure.
Strategic investment in artificial intelligence
The proceeds from the Bitcoin sale will fund a 25% equity stake in a joint enterprise with Hunt Properties, targeting the redevelopment of a US-based, energy-abundant industrial site into an AI-focused data center. Empery Digital has allocated $65 million to the project, which aligns with the growing trend of institutional investments in AI infrastructure.
In addition to the AI center investment, the company used $10 million from the Bitcoin liquidation to settle outstanding debts, and designated the remainder for legal expenses. Empery Digital currently retains 1,514 Bitcoin, valued at approximately $100 million, along with around $74 million in cash equivalents.
Mini dictionary: Hunt Properties is a real estate investment and development firm with a focus on commercial and industrial properties primarily in the United States. Their projects often emphasize large-scale site redevelopment and energy infrastructure.
The firm’s decision to pivot towards artificial intelligence infrastructure follows a broader industry narrative, as institutional interest in AI projects has increased and enthusiasm for large-scale Bitcoin holdings has cooled.
Market reaction and company performance
Shares of Empery Digital opened Friday with a 4.2% surge, reaching $3.95, before closing at $3.86, a 1.58% gain for the day. The positive opening reflected market approval of the firm’s move away from aggressive Bitcoin accumulation.
| Asset | Previous Holdings | Current Holdings | Value (approx.) |
|---|---|---|---|
| Bitcoin (BTC) | 2,914 BTC | 1,514 BTC | $100 million |
| Cash/Liquid assets | ~$74 million | ~$74 million | ~$74 million |
Despite the day’s gains, Empery Digital shares have declined nearly 18% since the start of the year and have fallen about 82% since the company began its Bitcoin treasury strategy in July 2025. At the peak of its accumulation, Empery held 4,081 Bitcoin, ranking among the top 25 publicly listed Bitcoin holders globally.
Empery pivoted to digital assets in mid-2025, following its rebranding from Volcon, an electric powersports manufacturer, and raised over $500 million to build its cryptocurrency reserves.
Investor activism and sector trends
The company’s new direction comes after sustained pressure from Tice P. Brown, who holds around 10% of Empery’s outstanding shares. Brown called for the end of the Bitcoin accumulation strategy and recommended changes in company leadership, including the resignation of its CEO and board members.
Empery Digital acquired its Bitcoin reserves as the cryptocurrency approached its all-time high of $126,080 in October 2025. Since then, the trend of publicly traded firms maintaining large Bitcoin treasuries has diminished, prompting reviews of capital allocation strategies among peer institutions.
Companies in the sector are realigning their portfolios by shifting away from aggressive Bitcoin accumulation in favor of investments in artificial intelligence infrastructure, reflecting growing institutional confidence in AI-related growth.
Empery’s move follows that of Strategy, a publicly traded firm known for holding the largest corporate Bitcoin reserve. Strategy recently sold 3,588 Bitcoin, raising $216 million to support dividend payouts on its preferred equity product, the Stretch instrument. The sale represented a noteworthy change, as Strategy had previously committed to holding Bitcoin as a core treasury asset. Its share price also rose after the decision.
Regulatory filings confirm that Empery continues to hold significant Bitcoin reserves, but its new investment in the AI data center marks a substantial evolution in its overall strategy.
