Company That Previously Purchased a Large Amount of Bitcoin Sells BTC: Says It May Sell More

Nasdaq-listed Empery Digital announced that while it made significant progress in its share buyback program, it also sold off its Bitcoin ($BTC) holdings during the same period.

According to the company’s statement, 24,640,671 common shares have been repurchased so far under the share buyback program, which has a total value of $200 million. The average price for these purchases was $5.77 per share.

On the other hand, the company sold 370 Bitcoins in the week ending April 3rd to create liquidity on the balance sheet side. These sales, conducted at an average price of $66,632, generated approximately $24.7 million in revenue. Following this transaction, the total amount of Bitcoin held in the company’s reserves decreased to 2,989 $BTC.

Empery Digital announced that it will continue its strategy to optimize its capital structure. The company aims to increase investor value by continuing to repurchase shares trading below its net asset value (NAV). In this context, it stated that it may increase credit financing for further repurchases or reduce its Bitcoin holdings to a limited extent in the future.

*This is not investment advice.