Empery Digital
EMPD · NASDAQTreasury vehicleHighUnited States
BTC held
1,279
as of Aug 6, 2026 · 0.006% of 21M
Value now
$99M
at BTC $77,311
Basic mNAV
0.85×
mkt cap $84M as of Aug 28, 2026
Sats per share
4,550
28M shares as of Jun 30, 2026
Cost basis
- Average cost per BTC
- $117,549
- Total invested
- $478M
- Unrealized gain
- $-51M (-34.2%)
Treasury debt
- BTC-collateralized Master Loan Agreement (not a convertible note), entered Oct 12, 2025; $55.0M outstanding at Jun 30, 2026, reduced to $35.0M after Aug 6, 2026; 954 BTC pledged as collateral post-August (1,539 BTC at Jun 30). Original BTC purchases were funded by a >$500M July 2025 PIPE. · 7.5%$35M · due 2027-10-09
Recent activity
Aggressive seller in 2026: sold 1,167 BTC for $80.1M in H1 2026 and another 1,635 BTC for $102.2M between Jul 1 and Aug 6, 2026 (roughly half the remaining stack), cutting holdings from 3,723.7 BTC (Feb 9) to 1,279 BTC, of which 954 BTC is pledged and only 325 BTC unrestricted. Proceeds fund debt repayment, share buybacks ($149.7M / 26.2M shares repurchased through Jun 30) and a Midwest AI data center pivot.
Risk notes
Sold ~76% of its peak 4,065 BTC stack (bought at avg $117,549 - well above 2026 sale prices), posted a $128.4M H1 2026 net loss driven by a $106.3M digital-asset loss, went through a messy proxy/boardroom fight in early 2026, and trades around 0.5x mNAV; most remaining BTC is encumbered as loan collateral while the company pivots to AI data centers.
Sources
- https://www.sec.gov/Archives/edgar/data/0001829794/000168316826006099/empery_i10q-063026.htm
- https://www.stocktitan.net/sec-filings/EMPD/10-q-empery-digital-inc-quarterly-earnings-report-7aacdd85b126.html
- https://www.coindesk.com/markets/2026/07/11/bitcoin-treasury-company-empery-digital-sold-about-half-of-btc-stack
- https://www.coindesk.com/business/2026/03/01/buyouts-and-bitcoin-inside-the-messy-boardroom-fight-at-a-treasury-company-that-may-span-to-others
- https://www.investing.com/news/company-news/empery-digital-adds-13-bitcoin-to-holdings-now-owns-4065-btc-93CH-4208950
- https://stockanalysis.com/stocks/empd/statistics/
- https://www.sec.gov/Archives/edgar/data/1829794/000168316826000866/empery_ex9901.htm
Figures are compiled from public disclosures and may lag. This page is information, not investment advice or a recommendation regarding EMPD securities.