Empery Digital has disposed of 1,400 BTC for just over $87 million, becoming the latest publicly traded Bitcoin treasury firm to monetize part of its holdings amid ongoing market pressure. The firm published a Form 8-K filed with the United States Securities and Exchange Commission indicating that it has sold the units between May 7 and July 10 at an average price of approximately $62,200 per bitcoin. As such, it has reduced its crypto reserve by nearly half. As of the filing day of July 10, Empery held 1,514 BTC compared to 2,914 before the sales, alongside almost $74 million in cash. The company said it will use the proceeds to support several corporate priorities rather than signal a complete withdrawal from bitcoin. Empery Digital’s EMPD stock actually rose by over 1.5% on Friday after the BTC sale news went viral. ## Corporate Priorities The entity added that it used $10 million to repay part of its outstanding debt on July 7, leaving $45 million under its debt facility. Additional proceeds are earmarked for ongoing operations and high legal expenses connected to stockholder litigation. It will deploy a substantial portion of the newly acquired cash to help finance a previously announced property acquisition. ## Expansion Plans Empery Digital also plans to expand into AI infrastructure, agreeing to invest $65 million for a 25% stake in a Hunt Properties-managed entity that is acquiring and redeveloping a power-intensive industrial facility in the US. Empery Digital has joined a growing list of companies selling their BTC during this time of market distress, with analysts debating whether this is only a net-negative development for bitcoin or if there is more to the story. On-chain data show that miners had disposed of over 32,000 BTC in Q1, which was described as the largest quarterly liquidation on record
Based on reporting from crypto.news.