Empirical Digital, Bitcoin Financial Firm Sells Nearly Half of BTC Holdings

Empirical Digital sold 1,400 BTC after May 7, reducing its Bitcoin holdings by nearly half. Proceeds of approximately $87.1 million were allocated to debt repayment, AI-related real estate acquisitions, and legal costs for shareholder litigation. The company's remaining debt stands at $45 million, while cash reserves total $73.9 million. A $65 million real estate deal was announced for June 30, involving acquisition of a 25% stake in a non-listed entity to convert a U.S. Midwestern facility into an advanced AI data center. The stock price rose 2% to $3.87 on the day, reflecting a 14% gain in the past month but a 15% decline since the start of the year.