The e-bike company formerly known as Volcon Inc, but which became the Bitcoin treasury company Empery Digital in July of last year is now announcing that they will not be buying anymore bitcoin for their mNAV and indeed may be selling some of the bitcoin because they are developing a data center in which they will run lots of GPUs for AI compute.

Empery Digital Inc. (NASDAQ: EMPD) (the “Company” or “Empery Digital”) today provided additional information regarding the capital needs associated with its investment in the Midwest facility to be converted into a state-of-the-art AI data center.

Empery Digital intends to continue allocating capital to similar opportunities that it believes deliver significant value to all shareholders.** The Company still holds bitcoin but does not currently plan to accumulate more bitcoin and may sell bitcoin to fund this and similar future opportunities.

Bear markets are no fun, but it does seem like a good thing if many of the companies that jumped on the treasury bandwagon last year because they thought they could catch the hype wave sell their bitcoin.