According to the company on March 9, Austin‑based Empery Digital disposed of 102 Bitcoin at $71,636 each last week, generating roughly $7.3 million in gross proceeds that were immediately allocated to cash reserves and share‑repurchase activities.
The disclosure arrived as activist investors ATG Capital and Tice P. Brown intensified pressure on the board, each submitting rival director slates for the 2026 annual meeting on March 2.
Nevertheless, the divestiture was more than offset by a wave of corporate‑treasury purchases, which together amounted to about $1.28 billion in net inflows—equivalent to roughly 18,061 Bitcoin—over the same period, with firms such as Strategy leading the buying spree.
Strategy leads as Bitcoin held by corporate treasuries climbs again. Source: SoSoValue
Empery shareholders force strategic pivot
Empery’s choice to liquidate rather than accumulate Bitcoin signals a company under pressure. On March 2, 2026, both ATG Capital and Tice P. Brown filed nomination notices indicating their intention to propose competing directors at the upcoming annual meeting.
The exact date of the meeting has yet to be set, but the filings suggest dissatisfaction with the current leadership.
The board clash dates back several weeks. On February 24, Empery issued a statement refuting Brown’s earlier claims that he had spoken with the broker handling the firm’s share‑repurchase program.
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“Mr. Brown never spoke with the broker executing the stock repurchase program on behalf of Empery Digital,” the company said, adding that his allegations were part of a “self‑serving campaign.”
At that time, Empery doubled down on share repurchases funded by Bitcoin sales. By March 6, the firm had bought back 20,175,242 shares at $6.06 per share (including fees) under its $200 million buyback plan.
This brought the total number of outstanding shares to 31,244,993.
The approach is straightforward – sell Bitcoin to fund share repurchases.
Management said it will use existing cash balances and, if necessary, reduce its Bitcoin holdings to finance future buybacks and possibly repay additional debt.
Strategy leads $1.28 billion weekly buying
While Empery’s disposal may raise eyebrows, other corporate investors have more than compensated with fresh purchases.
In the past week, corporate treasuries recorded net inflows of $1.28 billion in Bitcoin, equivalent to 18,061 BTC added across various balance sheets. This buying surge lifted total corporate holdings to approximately 999.21k BTC across 42 companies tracked by SoSoValue, valued at roughly $69.33 billion.
Strategy remains the dominant player, acquiring 17,994 BTC in its latest transaction and cementing its status as the largest corporate treasury holder (about $50 billion at current prices).
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Other participants included Brazil’s OrangeBTC, which added 0.7 BTC, and DayDayCook, which bought 65 BTC, raising its total to 2,183 BTC.
Twenty One Capital holds 43,500 BTC (about $3 billion) and Metaplanet possesses 35,102 BTC (approximately $2.42 billion), keeping them near the top of the corporate leaderboard.
Annual meeting looms
The mounting tension at Empery is expected to culminate at the 2026 annual meeting, where the rival director slates from ATG Capital and Tice P. Brown will force shareholders to decide between continuing the current buyback strategy or endorsing an alternative plan.
Empery still retains 3,562 BTC, giving it enough flexibility to maintain its present course or shift direction under new leadership. As things stand, management has pledged to trim its Bitcoin position as needed, implying further sales unless a strategic change occurs.