The Nasdaq-listed former EV maker turned bitcoin treasury company is backing a power-heavy Midwest AI data center project with Hunt Properties while scaling back bitcoin-only NAV reporting.
Empery Digital, the Nasdaq-listed former electric vehicle maker turned bitcoin treasury company, said it will invest $65 million for a 25% stake in a newly formed entity that plans to acquire a Midwest industrial property and convert it into an AI data center. Hunt Properties, through its subsidiary TexStack Infrastructure, will hold the remaining 75%. The site has about 150 megawatts of existing power capacity and a recent load study indicated it could scale to around 300 MW. Empery said it made an initial $2.9 million capital contribution, with the remaining $62.1 million due at closing, which is expected in the third quarter of 2026. The total property acquisition price is about $230 million and the due diligence review period is set to expire on July 29. The company also said it will discontinue its bitcoin treasury dashboard because crypto-based net asset value no longer fully reflects its total NAV. The move comes after Empery, which rebranded from Volcon Inc. in mid-2025, sold portions of its bitcoin holdings under pressure tied to losses and debt reduction. By April, it had sold 370 BTC at about $66,632 each to retire its term loan and free roughly 1,800 BTC that had been pledged as collateral. It currently holds 2,914 BTC, according to BitcoinTreasuries.net.