Inside the $87 million BTC sell-off driving a Bitcoin treasury pivot into AI data centers
Empery Digital has expanded beyond a pure Bitcoin-treasury model by closing a $20 million preferred-equity investment in Cardinal Data Power, taking an roughly 8% stake in the Hunt Properties-affiliated developer. The investment is part of a larger proposed financing for a West Texas data-center campus, but key elements of that project remain conditional, including a binding lease and power-delivery timing. The shift follows Empery’s July disclosure that it sold 1,400 BTC between May 7 and July 10 for about $87.1 million gross, using some proceeds to repay $10 million of debt and fund other corporate needs. As of July 10, it held 1,514 BTC, about $73.9 million in cash, and $45 million of debt. Empery also has a separate $65 million commitment tied to a Midwest property acquisition through EMHU, with $2.9 million already contributed and $62.1 million contingent on closing. The deal and a related tenant arrangement remain non-binding and subject to conditions.
