The sales are not isolated. In the first half of 2026, the company sold 1,167 BTC for $80.1 million, producing a $56.8 million realized loss based on the original cost of the Bitcoin sold. Proceeds have been directed toward debt repayment, share buybacks, and a conditional property commitment. Through August 6, Empery had repurchased 26.24 million shares for $149.7 million at an average price of $5.71.
The strategic pivot is equally stark. Empery Digital has committed $20 million to a preferred equity investment in Cardinal Data Power, Inc., a private developer of powered data center campuses, for approximately 8% ownership. That investment is part of a roughly $70 million Series A financing round led by Hood River Capital Management. The company has also announced a $65 million property deal for a 25% ownership stake in a private entity acquiring a Midwest facility to be converted into an AI data center.
Meanwhile, the proxy fight intensifies. A vice chancellor in the Delaware Court of Chancery has removed anonymity protection for a list of stockholders assembled by activist fund ATG Capital, which is seeking to replace board seats. The court ordered ATG to reveal the list to Empery’s counsel, though the names remain highly confidential within the litigation. ATG alleges the board unfairly used bylaws to shut down a proxy voting contest; Empery counter-claims that ATG’s nomination paperwork was genuinely defective. Final closing briefs are pending before the court renders its verdict.