Empery Digital Pivots: Sells Half of Bitcoin Treasury to Fund Massive AI Data Center Project
Empery Digital (EMPD) has executed a massive strategic pivot, selling nearly half of its Bitcoin holdings to fuel a high-stakes expansion into artificial intelligence infrastructure. The firm liquidated 1,400 BTC for approximately $87.1 million, aiming to fund a new AI data center venture and settle outstanding corporate debt.
This move follows intense pressure from major shareholders who demanded an end to the company's Bitcoin treasury strategy. By reallocating capital from Bitcoin into industrial AI data centers, Empery is attempting to transition from its roots in electric powersports to become a key player in the AI infrastructure boom.
Shares of Bitcoin treasury company Empery Digital (EMPD) popped 4.2% to $3.95 within the first 35 minutes of trading on Friday after the firm disclosed a major shift in its capital allocation. The company revealed it sold 1,400 Bitcoin (BTC) at an average price of $62,200 per coin, generating roughly $87.1 million over the past two months.
Proceeds from the Bitcoin sale are being used to fund a 25% stake in a Hunt Properties-affiliated venture, which is acquiring an industrial site to be converted into an AI data center. Additionally, $10 million was allocated to pay down existing debt. This strategic shift comes months after a major shareholder demanded the firm abandon its Bitcoin treasury strategy and called for the resignation of the CEO and board.
This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.
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