Empery Digital, a Bitcoin treasury company listed on Nasdaq, sold approximately half of its Bitcoin reserves to finance investments in artificial intelligence data centers.
According to a statement released by the company, Empery Digital has sold a total of 1,400 BTC since May 7th. The average selling price of the Bitcoins was approximately $62,200, generating a total revenue of $87.1 million from the transactions.
The amount sold represented almost half of the company’s total Bitcoin reserves prior to the transaction.
The statement indicated that $10 million of the proceeds was used on July 7 to repay debts. The remaining funds are planned to be used for previously announced AI data center-related real estate investments, legal expenses arising from shareholder lawsuits, and daily operating expenses.
Empery Digital previously announced it would invest $65 million to acquire a 25 percent stake in a company planning to develop an AI data center project in the US Midwest.
The company reportedly still holds 1,514 BTC as of July 10. These Bitcoins are said to be worth approximately $96.5 million at current prices. Empery Digital also has approximately $73.9 million in cash and $45 million in outstanding debt.
The recent sale was one example showing that publicly traded companies holding Bitcoin reserves are beginning to use BTC not only as a long-term investment vehicle but also as a source of liquidity.
*This is not investment advice.
