Empery Digital disclosed that it sold 1,635 Bitcoin between July 1 and Aug. 6 for $102.2 million, reducing its holdings to 1,279 BTC. Of that total, 954 BTC was pledged as collateral for $35 million of debt, leaving 325 BTC unrestricted, down from 1,375 unrestricted BTC on June 30. The company also said it sold 1,167 BTC in the first half of the year for $80.1 million and used cash for share buybacks and debt repayment, including $54 million spent on repurchases and the repayment of $50 million under repurchase financing plus another $10 million loan. After June 30, Empery repaid a further $20 million of debt, prompting lenders to return 585 BTC and reducing pledged collateral from 1,539 BTC to 954 BTC. The filing also showed a broader push to manage liquidity: Empery invested $2.9 million in the independent real estate project EMHU managed by Texstack and could be required to contribute another $62.1 million if an acquisition closes, while separately completing a $20 million investment in Cardinal Data Power for about an 8% stake. As of June 30, the company held $3.7 million in cash including restricted cash and reported a working capital deficit of $5.7 million, underscoring the pressure on freely deployable assets rather than headline Bitcoin balances alone.