Public companies continue to rethink the strategy of permanent cryptocurrency accumulation in favor of real-world infrastructure. The latest case is Bitcoin treasury firm Empery Digital, which recorded millions of dollars in profit by repeating a recent move made by its competitor, Nakamoto.
According to SEC filings, since May 7, Empery Digital has sold 1,400 BTC at an average price of around $62,200, bringing the company $87.1 million in cash.
As a result, the company now ranks 36th in the global Bitcoin treasury ranking compiled by BitcoinTreasuries.NET, as it still holds 1,514 BTC, along with $73.9 million in cash against $45 million in total debt.
Why Empery Digital is swapping Bitcoin for cash
The proceeds made by Empery Digital will be used for three specific purposes:
- $10 million for the immediate repayment of a portion of its debt;
- Legal expenses related to litigation with minority shareholders;
- The purchase of real estate to finance a previously announced property acquisition.
The connection between the real estate purchase and the company’s AI pivot is direct, as the properties are being acquired for data centers. To launch AI computing operations, the company critically needs physical land and access to electrical power — the “plug” — which Empery Digital is financing through the sale of its Bitcoin holdings.
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Alongside the transaction, management officially announced a change in strategy. The company will no longer use the net asset value of its Bitcoin holdings as its main measure of success. From now on, the business will be fully focused on AI computing and energy infrastructure.
The cases of Nakamoto and Empery Digital point to a new trend in which corporations are no longer treating Bitcoin as an untouchable asset, as they did in 2025. Instead, they are converting it into liquidity when necessary and using the proceeds to build infrastructure for what they consider the most promising sector — artificial intelligence.
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