The company disclosed it sold 1,400 BTC since May 7 at an average price of about $62,200 per coin, generating roughly $87.1 million in gross proceeds. Of that total, $10 million went toward retiring outstanding debt on July 7. The remainder is earmarked for a previously announced property acquisition—pending completion of a purchase and sale agreement—as well as legal expenses stemming from stockholder litigation disclosed in the company's most recent quarterly report, along with general operating costs.
As of Thursday, Empery Digital held 1,514 BTC—currently valued at nearly $96.5 million—and approximately $73.9 million in cash, with $45 million still outstanding on its debt facility, the filing shows.
Decrypt reached out to Empery Digital for comment regarding the sale and whether it impacts the firm’s treasury strategy going forward, but did not immediately receive a response.
The disclosure offers a window into how corporate holders of Bitcoin are increasingly treating their crypto reserves as a liquidity source, selling down positions to meet conventional financial obligations rather than holding the asset purely as a long-term investment.
The stockholder litigation referenced in the filing was previously outlined in Empery Digital's quarterly report for the period ending March 31, though the company did not detail the specific legal costs in this week's disclosure. The filing does not specify a timeline for completing the property acquisition or resolving the pending litigation.
