Damn it—sold 1,400 BTC at a loss to switch to AI. Is this “treasury company’s” faith only worth a year?
Damn it. A company that once loudly touted “accumulating Bitcoin” now sells nearly half its holdings at an average price of $62,200, and turns around to bet on AI data centers—capital has no faith, only return on investment.
Empery Digital disclosed that over the past two months it sold 1,400 $BTC , raising about $87.1 million in cash. Its holdings dropped 48%, and it currently has 1,514 coins left. The funds were not all poured into AI: $65 million was used to buy a 25% stake in a physical data center facility, and another $10 million was used to repay debt.
What’s truly eye-catching is the cost. In August 2025, the company disclosed it held 4,018 BTC at an average cost as high as $117,552; yet now it’s selling near $62,200. While you can’t precisely calculate the cost basis of this batch from that alone, it clearly isn’t a “pretty” take-profit—it looks more like a strategic exit driven by liquidity pressure.
Why sell BTC at a discount rather than issue more shares? Because EMPD’s share price has already fallen sharply from its 2025 peak; a low-price equity raise would heavily dilute shareholders. By contrast, BTC is the easiest “chip” to liquidate on the balance sheet.
And the AI project isn’t just empty talk: the target facility has 150MW of existing capacity and could potentially be expanded to 300MW. It has also signed a non-binding cloud computing lease intent with a potential value of $1 billion.
My view is that the “Bitcoin treasury company” wave in 2025 is already ebbing. When BTC is rising, companies fund coin purchases with stock. Once the stock loses its premium, they can only sell coins, repay debts, and chase AI. Empery isn’t selling “faith”—it’s selling an obsolete financing model.
If you’re an EMPD shareholder, you can only pick one:
A. Hold onto the BTC and wait for the rebound
B. Cut losses on BTC and move into AI infrastructure
$BTC #摩根士丹利增持1000枚BTC
Risk warning: The AI data center still faces construction cost, power supply, and tenant execution risks; the $1 billion lease is currently only a non-binding intent and not confirmed revenue.
Damn it. A company that once loudly touted “accumulating Bitcoin” now sells nearly half its holdings at an average price of $62,200, and turns around to bet on AI data centers—capital has no faith, only return on investment.
Empery Digital disclosed that over the past two months it sold 1,400 $BTC , raising about $87.1 million in cash. Its holdings dropped 48%, and it currently has 1,514 coins left. The funds were not all poured into AI: $65 million was used to buy a 25% stake in a physical data center facility, and another $10 million was used to repay debt.
What’s truly eye-catching is the cost. In August 2025, the company disclosed it held 4,018 BTC at an average cost as high as $117,552; yet now it’s selling near $62,200. While you can’t precisely calculate the cost basis of this batch from that alone, it clearly isn’t a “pretty” take-profit—it looks more like a strategic exit driven by liquidity pressure.
Why sell BTC at a discount rather than issue more shares? Because EMPD’s share price has already fallen sharply from its 2025 peak; a low-price equity raise would heavily dilute shareholders. By contrast, BTC is the easiest “chip” to liquidate on the balance sheet.
And the AI project isn’t just empty talk: the target facility has 150MW of existing capacity and could potentially be expanded to 300MW. It has also signed a non-binding cloud computing lease intent with a potential value of $1 billion.
My view is that the “Bitcoin treasury company” wave in 2025 is already ebbing. When BTC is rising, companies fund coin purchases with stock. Once the stock loses its premium, they can only sell coins, repay debts, and chase AI. Empery isn’t selling “faith”—it’s selling an obsolete financing model.
If you’re an EMPD shareholder, you can only pick one:
A. Hold onto the BTC and wait for the rebound
B. Cut losses on BTC and move into AI infrastructure
$BTC #摩根士丹利增持1000枚BTC
Risk warning: The AI data center still faces construction cost, power supply, and tenant execution risks; the $1 billion lease is currently only a non-binding intent and not confirmed revenue.