Another crypto treasury company bites the dust❗️ NASDAQ-listed Empery Digital sold 1,400 $BTC over the past two months at an average price of $62,200, cashing out $87.1M. They’ve basically halved their holdings, slashing their stash from 4,081 BTC to 1,514 BTC. Where did the money go? $10M went to debt repayment, and $65M was invested in AI data centers. Empery used to be in the electric vehicle business and only pivoted to a Bitcoin treasury strategy in mid-2025, jumping in at the historical peak of $126K. Looking back now, it’s a classic case of “buying high, selling low.” Their stock price has plummeted 82% from its peak, and major shareholders have been pressuring the company to abandon its Bitcoin strategy since last year. Interestingly, after the news broke, the stock price actually rose 4%. The market seems to think “swapping BTC for AI data centers” makes for a better narrative. Earlier this month, Strategy sold 3,588 BTC, and now Empery has dumped another 1,400 BTC. The crypto treasury companies’ “HODL-only” faith is being shattered by reality. On one side, there’s the explosive demand for AI computing power—SK Hynix predicts HBM prices will double by 2027. On the other side, BTC is stuck in the $60K-$65K range, so it’s no surprise that money is flowing toward more certain returns. That said, this also indirectly suggests that the true bottom price of Bitcoin in this bear market might not be far off! If one day, social media platforms like Twitter are flooded with news of ETF institutions seeing daily net outflows of $1B+, then Bitcoin’s bear market bottom price will have arrived! #BTC #ETFInstitutions #Strategy #EmperyDigital