Empery Digital sold 1,400 Bitcoin for approximately $87.1 million since May 7, according to a July 10 filing, as the Nasdaq-listed company redirects capital toward AI infrastructure investment, debt repayment, and legal costs. The sale, executed at an average price of about $62,200 per BTC, reduced Empery's Bitcoin holdings by nearly half and represents the company's largest single reduction to date. The move comes as prediction market data shows a 46% probability of Bitcoin reaching $50,000, reflecting increased downside concern among traders.
Empery Digital Allocates $87.1M Sale Proceeds to AI and Debt
Empery Digital disclosed in a July 10 filing that it sold 1,400 Bitcoin since May 7 at an average price of about $62,200 per BTC. The company used part of the proceeds to repay $10 million of outstanding debt on July 7. Empery also plans to use funds for legal expenses tied to shareholder litigation, general operations, and a previously announced property acquisition.
The remaining proceeds will help finance a $65 million commitment to an AI data center project. The investment would give Empery a 25% stake in a Hunt Properties-affiliated venture that is buying a power-rich industrial site in the United States. The partners plan to convert the site into an AI data center campus. The facility has about 150 megawatts of power capacity and could expand to 300 megawatts, reports said.
As of July 10, Empery still held 1,514 BTC and about $73.9 million in cash. The company also had about $45 million of debt outstanding.
Company Reduces Bitcoin Holdings After $500M Treasury Launch
Empery raised more than $500 million last July to launch its Bitcoin treasury strategy after shifting away from electric powersports vehicles. The company, then known as Volcon, later accumulated more than 4,000 BTC and became one of the larger public Bitcoin holders.
The latest sale places Empery among companies reducing Bitcoin holdings after using treasury models. Empery shares rose slightly on Friday, but the stock remains down about 18% year-to-date and roughly 82% since the company launched its Bitcoin treasury strategy last July. The company has also removed its Bitcoin treasury dashboard, saying BTC holdings no longer fully represent its value.
Prediction Markets Show 46% Odds of $50K Bitcoin
Prediction market data showed a 46% chance of Bitcoin reaching $50,000 and a 64% chance of touching $55,000. Upside odds stood at 94% for $65,000, 77% for $70,000 and 51% for $75,000.
Bitcoin recently traded near $64,000 after rebounding from a bear-market low near $57,700. CryptoQuant said Bitcoin recovered about 11% from that low, while demand improved from a sharp contraction in early June.
Standard Chartered has taken a more positive view on Bitcoin near current levels. Geoffrey Kendrick, the bank's head of digital assets research, described Bitcoin around $64,000 as a "screaming buy" and kept a $100,000 year-end target. Kendrick also said concerns over recent BTC sales are "mostly noise." He said the issue is more about explaining a new capital model than showing balance sheet weakness, adding, "I see what is happening at MSTR right now as a communication challenge, nothing more."
FAQ
How much Bitcoin did Empery Digital sell and when?
Empery Digital sold 1,400 Bitcoin since May 7 at an average price of about $62,200 per BTC, totaling approximately $87.1 million, according to a July 10 filing.
What is Empery Digital using the Bitcoin sale proceeds for?
Empery used part of the proceeds to repay $10 million of debt on July 7. The company plans to allocate remaining funds to legal expenses, general operations, a property acquisition, and a $65 million commitment to an AI data center project that would give it a 25% stake in a Hunt Properties-affiliated venture.
What are prediction markets showing for Bitcoin's price outlook?
Prediction market data showed a 46% chance of Bitcoin reaching $50,000 and a 64% chance of touching $55,000, while upside odds stood at 94% for $65,000, 77% for $70,000 and 51% for $75,000.
