Empery Digital Sells 1,635 BTC, Reduces Reserves by 76% in Weeks
Empery Digital, a Bitcoin-treasury company, has offloaded a significant portion of its holdings in recent weeks. According to its latest quarterly filing, the company sold 1,635 BTC for $102.2 million between July 1 and August 6. This sale reduced Empery's reserves by 76% over this period.
The total treasury now stands at 1,279 BTC, with 325 BTC unrestricted. The remaining BTC was restricted as collateral against a debt of $35 million. Empery had previously used its treasury to fund cash needs earlier in the year.
The company's quarterly filing revealed that it sold 1,167 BTC for $80.1 million during the first half of the year. This sale helped fund share repurchases, repayment of a Repo Facility, and other expenses. However, Empery did not allocate the amounts or trace one pool of sale proceeds to every use.