The allure of digital gold is losing its grip to the hunger for computing power. Empery Digital shares rose 4.2% to $3.95 on Friday morning after the firm admitted it sold nearly half its Bitcoin holdings.
The company offloaded 1,400 Bitcoin at an average price of $62,200 per coin over the last two months. This move netted roughly $87.1 million, according to reports from Crypto News. The stock later settled at $3.86, closing up 1.58% for the day.
Empery, once an electric powersports vehicle maker, is using the cash to pivot. Some funds secured a 25% stake in a Hunt Properties-affiliated venture to convert an industrial site into an AI data center. Another $10 million went to clearing outstanding debt.
The retreat from crypto follows a bitter internal rift. Tice P. Brown, who holds nearly 10% of the company, had demanded the CEO and the entire board resign. Brown urged the firm to abandon its Bitcoin-buying strategy, which began in mid-2025.
That strategy peaked when Bitcoin approached its October all-time high of $126,080. Empery once held 4,081 Bitcoin but trimmed that figure in March and April. Its holdings now stand at 1,514 Bitcoin, worth $97 million at current prices.
The shift mirrors a wider corporate fatigue with Bitcoin treasury models. Even Strategy, the largest corporate holder, sold 3,588 Bitcoin worth $216 million this month. Strategy used those funds for dividends on its Stretch (STRC) preferred stock.
The STRC offering had fallen from a $100 par value to below $75 last month. This drop sparked fears that the dividend model was unsustainable, as reported by Crypto News. Both firms found that investors preferred tangible AI assets over volatile coins.
Market confidence now hinges on whether these data centers can generate real yield. Investors will watch the Hunt Properties venture closely through the end of the year to see if the AI pivot pays off.
