₿$70,994.00▼ 2.62%
Empery Digital Inc.
EMPD🇺🇸Leveraged
Empery Digital (formerly Volcon, Inc.) is a former electric powersports company that pivoted to a Bitcoin treasury strategy on July 17, 2025, after closing a $500M+ private placement. The company acquires BTC using equity offering proceeds and uses BTC-collateralized credit facilities to fund an aggressive share repurchase program.
BTC Holdings
2,989 BTC
180d
Stock Price
$4.79
180d
Total financing
50.00M USD
180d
mNAV
0.71x
180d
Leverage
14.7%
180d
BTC Credit
0 bps6.8x
Sats/Share
9,514
180d
Mkt cap
150.49M USD
Shares
31.42M
Fiat reserve
18.82M USD
Total reserve
231.02M USD
Dilution
0.0%
Analytics
BTC Coverage
Financials
US-GAAPAnnualAs of 2025-12-31
Balance Sheet
Total Assets$372.4M▲5881.5%
Total Liabilities$103.2M▲1568.7%
Stockholders' Equity$269.2M▲660370.1%
Cash & Equivalents$9M
Total Debt$99.9M▲219827.2%
Digital Assets$357M
Income Statement
Revenue$975K▼75.9%
Operating Income$-153.5M▼668.2%
Net Income$-150.1M▼429.7%
Interest Expense$2.3M▲250.1%
Cash Flow
Operating Cash Flow$-17.8M▼211.3%
Instruments
Total
0.00 USD
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| Total | 0.00 USD | |||||
Recent Changes
Fri, Apr 3, 2026
BTC Holdings
3.4K→3.0K-450 BTC(-13.1%)
Sold 370 BTC since Mar 27 at avg $66,632/BTC for ~$24.7M
Share Repurchase Update (24.6M shares, 2,989 BTC)Shares Outstanding
33.7M→31.4M-2.3M(-6.8%)
After 24,640,671 total shares repurchased at avg $5.77
Share Repurchase Update (24.6M shares, 2,989 BTC)Wed, Apr 1, 2026
Debt OutstandingRepaymentEMPD-MLA27
50.0M→0-50.0M(-100.0%)
Fully repaid; ~1,800 BTC released from collateral
Term Loan Repayment (~1,800 BTC released from collateral)Tue, Mar 24, 2026
Shares Outstanding
31.2M→33.7M+2.5M(+7.9%)
Includes 2,696,395 pre-funded warrants (616,598 existing + 2,079,797 new)
Form 424B5 (M equity offering)Fri, Mar 20, 2026
BTC Holdings
3.7K→3.4K-225 BTC(-6.1%)
Form 8-K ($25M direct offering, 3,439 BTC holdings)
Fri, Mar 6, 2026
Shares Outstanding
33.8M→31.2M-2.6M(-7.6%)
Includes 616,598 pre-funded warrants
Share Repurchase Update (20.2M shares, 3,562 BTC)Fri, Feb 27, 2026
BTC Holdings
3.7K→3.7K-59.7 BTC(-1.6%)
Sold 60 BTC at avg $66,583/BTC for ~$4M
Share Repurchase Update (18.7M shares, 3,664 BTC)Fri, Feb 6, 2026
BTC Holdings
4.1K→3.7K-357.3 BTC(-8.8%)
Sold 357.7 BTC at avg $67,907/BTC for ~$24M
Form 8-K (share repurchase and BTC holdings update)Wed, Dec 31, 2025
BTC Holdings
4.1K→4.1K-0.39 BTC(-0.0%)
1,451 unrestricted + 2,630 restricted by lenders as collateral
Form 10-K (2025)Shares Outstanding
42.3M→33.8M-8.5M(-20.2%)
Form 10-K (2025)
Debt OutstandingDrawEMPD-MLA27
50.0M
1,196 BTC ($104.6M) held as collateral
Form 10-K (2025)