Shares in Bitcoin treasury company Empery Digital rose on Friday after the firm disclosed it had sold nearly half its Bitcoin holdings to fund an AI data center project and pay down debt.
Empery Digital (EMPD) shares popped 4.2% to $3.95 within the first 35 minutes of Nasdaq trading on Friday after the company revealed that it sold 1,400 Bitcoin (BTC) at an average of $62,200 a coin for roughly $87.1 million over the past two months.
The Round Rock, Texas-based company, which previously operated as an electric powersports vehicle manufacturer, said some of the proceeds funded its 25% stake in a Hunt Properties-affiliated venture, which is acquiring an industrial site to be converted into an AI data center. Another $10 million was used to pay off outstanding debt.
While EMPD shares retraced to $3.86 — closing up 1.58% on the day — the initial pop suggests that investors viewed the BTC sale favorably at a time when confidence in Bitcoin treasury strategies is fading and capital is flowing toward AI instead.
EMPD’s change in share price over the last five trading days. Source: Google Finance
Empery’s Bitcoin sales follow months of pressure from Tice P. Brown, a near-10% shareholder in the company, who called on the firm to abandon its BTC-buying strategy and demanded that the CEO and entire board resign. Empery had pivoted to a Bitcoin-centric treasury strategy in mid-2025 when the biggest crypto by market cap was pushing toward its October all-time high of $126,080.
The recent sales trimmed Empery’s Bitcoin holdings by 48% to 1,514 Bitcoin, worth $97 million at current prices.
Related: Bitcoin miners’ AI pivot faces investor scrutiny over insider sales
Empery held a company-high 4,081 BTC at its peak before offloading some of the holdings in March and April.
Strategy sold more BTC after STRC par break
Strategy sold 3,588 BTC worth $216 million earlier this month, parting from its previous “never sell your Bitcoin” position. The company’s share price rose in the aftermath of that sale.
The largest corporate Bitcoin holder said it used the proceeds of the sale to cover dividend payments for holders of its top perpetual preferred stock, Stretch (STRC), which broke from its $100 par value to below $75 last month, raising fears that its dividend model was unsustainable.
Features: Bitcoin nearing late stages of bear market: Jamie Coutts, Real Vision
