Empery Digital shares rise after selling BTC to fund AI data center projectThe sales come months after a major Empery shareholder demanded the firm ditch its Bitcoin treasury strategy and sought the resignation of its CEO and board.
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Empery Digital saw its shares rise after the company disclosed it had sold nearly half of its Bitcoin holdings, totaling 1,400 BTC at an average price of $62,200 per coin, raising around $87.1 million over the past two months. The proceeds from this sale were used to fund Empery’s 25% stake in a venture affiliated with Hunt Properties, which is acquiring an industrial site to develop an AI data center, as well as to pay down $10 million of outstanding debt. This move marks a significant strategic shift from Empery’s earlier focus on building a Bitcoin treasury when Bitcoin was near its all-time high in late 2025.
The sale trimmed Empery’s Bitcoin reserves by 48%, leaving it with 1,514 BTC valued at approximately $97 million based on current prices. The decision to liquidate a substantial portion of its Bitcoin came amid pressure from one of its largest shareholders, Tice P. Brown, who holds nearly 10% of the company and had pushed for abandoning the Bitcoin strategy while calling for the resignation of Empery’s CEO and board.
Empery’s stock reaction was initially positive, climbing 4.2% early in trading before settling with a 1.58% gain by the close. This response indicates investors are favoring Empery’s pivot toward AI infrastructure investment over a pure Bitcoin treasury approach, especially at a time when market confidence in Bitcoin holdings as a treasury strategy has diminished. The development also aligns with broader trends where capital is flowing towards AI-related projects.
The situation at Empery echoes similar moves by Strategy, the largest corporate Bitcoin holder, which recently sold over 3,500 BTC to cover dividend payments after concerns about the sustainability of its dividend model. These cases reflect a growing trend among companies with large Bitcoin treasuries to liquidate holdings to support other operational priorities or manage investor payouts, illustrating a shift away from the once-prevailing “never sell” philosophy during the Bitcoin rally.