Two publicly traded companies with Bitcoin reserves, Empery Digital and Genius Group, have divested parts or all of their $BTC assets to settle existing debts. This trend reflects a growing number of firms stepping back from the corporate accumulation strategy.
The current market dynamics surrounding $BTC are significant, especially since many of these businesses acquired the cryptocurrency when its price exceeded $100,000. Now that $BTC is trading below $70,000, it has severely impacted the financial health of these treasury holdings.
A report from BitcoinTreasuries.net indicates that nine public companies have reduced their Bitcoin assets just in March. After accounting for sales, the net growth in this sector has dwindled to 25,000 $BTC, while new acquisitions by treasury firms outside Strategy have plummeted to just 2% of monthly volume—down from an impressive 95% in October 2025.
Who is offloading their assets and what’s prompting these actions?
Empery Digital announced that it successfully cleared its outstanding term loan using funds raised through a recent direct offering alongside selling part of its Bitcoin stash.
The firm sold 370 $BTC, averaging $66,632 per coin and generating approximately $24.7 million in gross revenue. This repayment freed up around 1,800 Bitcoins previously used as collateral.
Currently holding 2,989 $BTC, Ryan Lane—the co-CEO—asserted that “this transaction improves our financial standing and enhances our risk management capabilities amid increased volatility in Bitcoin prices.”
Earlier this month, Empery Digital also sold off another batch of 102 $BTC. This move was aimed at funding buybacks for shareholders amidst pressure from some investors—including ATG Capital and Tice P. Brown—who expressed intentions to nominate new directors for the board.
Differing from Empery Digital’s approach; Genius Group liquidated its entire remaining Bitcoin reserve to fully repay $8.5 million worth of debt.
The management indicated plans to resume accumulating Bitcoins once market conditions improve favorably.
MARA Holdings also made headlines by selling off about a quarter (15,133) of its holdings for roughly $1.1 billion during March—a significant liquidation move within the mining sector.
What led to such rapid unraveling within corporate Bitcoin strategies?
Around mid-2025 , numerous companies across various sectors—from education providers and healthcare entities to miners—adopted treasury strategies inspired by Strategy’s model due largely to a surge in $ BTC ’s value .
Many issued equity above net asset value (NAV), utilizing those proceeds for further acquisitions with hopes that maintaining NAV premiums would create a self-sustaining cycle .
However , Galaxy Digital cautioned back in July 2025 regarding structural vulnerabilities inherent within this model —a liquidity derivative reliant on equities outperforming underlying BTC values . The unfortunate reality is now unfolding as many firms are compelled into divestment .
The decline witnessed—from over $110 ,000 down below$70 ,000 —has left numerous organizations grappling with underwater positions . Those who financed purchases via traditional debt instruments like term loans or convertible notes find themselves trapped between depreciating asset values while creditors maintain claims unaffected by fluctuating prices .
< CNBC reported on record-low figures concerning corporate buying activity outside Strategy related specifically towards BTC acquisitions recently observed during previous months.
(Strategy ) remains dominant among active buyers acquiring up towards44 ,377 BTC throughout March which accounts for94 %of total monthly additions seen across this space primarily funded through sales involving STRC perpetual preferred shares along with common stock offerings.
Total holdings now reach approximately762 ,099 BTC amassed at an estimated cost nearing57 .7 billion dollars accompanied by cash reserves approximating around2 .25 billion dollars.Strategy’s latest weekly acquisition involved purchasing1031 BT C valued at76 million indicating moderation following two consecutive weeks surpassing one billion dollars each time.
(Japan ’s Metaplanet raised40 point8billion yen ($255million)from global institutional investors duringMarch via share placements combining fresh equity paired together fixed-strike warrants expected potentially yielding531million total capital allocated towards futureBitcoin buys.) – Currently holding35 point102BT C aiming toward210 thousandBT C treasuries.AmericanBitcoinCorp(ABTC) added961B TC across three transactions throughoutMarch elevating themto sixteenth position amongstcorporate holders currently possessing7000BT Cs overall.