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Bitcoin treasury company Empery Digital Inc. has sold 63 BTC for an average price of $72,791 per coin, generating roughly $4.6 million in gross proceeds to fund an aggressive stock repurchase program. The sale was executed during the week ending March 20, 2026, according to disclosures from its U.S. operations.
Empery said the transaction is part of a broader effort to finance buybacks and reduce balance-sheet leverage. After the sale, the company still holds 3,439 BTC in its treasury, keeping it among the larger listed corporate Bitcoin holders.
The BTC sale was disclosed alongside a $25 million registered direct equity offering. Empery agreed to issue approximately 4.64 million shares of common stock at $5.39 per share, along with an equal number of warrants.
Empery said net proceeds, together with cash on hand, are earmarked to retire about $40 million of debt. The company plans to fully repay a $50 million repo facility and draw an additional $10 million from an existing $100 million credit line with lender Two Prime.
“We intend to use the proceeds from this offering, together with cash on hand, to meaningfully reduce our secured debt while continuing to return capital to shareholders via repurchases,” the company said.
Empery frames its strategy around maximizing bitcoin per share rather than simply accumulating coins. In recent updates, the company reported selling smaller BTC amounts and using the proceeds to buy back stock, including:
As of February 27, Empery had repurchased 18,685,725 shares under its $200 million authorization. By mid-March, that figure had increased to 21.3 million shares, with management indicating that “existing cash balances and reductions in bitcoin holdings” would continue to fund repurchases as needed.
The company’s approach involves a trade-off: fewer BTC on the balance sheet in exchange for a smaller equity base and a less leveraged structure. Empery cautioned that this could leave it more exposed if Bitcoin experiences a deep drawdown.
Among its stated risk factors, Empery noted that its stock price “may be highly correlated to the price of the digital assets that it holds,” citing the “highly volatile nature of the price of bitcoin and other cryptocurrencies.”
One macro takeaway highlighted by the company’s actions is that, after years in which “Bitcoin treasury strategy” largely meant one-way accumulation, firms such as Empery are increasingly monetizing parts of their holdings. The goal is to fund debt paydown, support share repurchases, and manage risk rather than relying solely on holding at all costs.
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