Volcon acquires 317 additional bitcoin, holds over 3,500 BTC

Volcon, Inc. (NASDAQ: VLCN), a company that previously specialized in all-electric off-road powersports vehicles, has significantly changed its business strategy to focus on a Bitcoin treasury program. The company, which is in the process of changing its name to Empery Digital Inc., recently announced it acquired an additional 316.8 BTC for approximately $37.3 million.

This acquisition brings its total holdings to over 3,500 BTC, which were purchased for an aggregate price of around $412 million. This reflects an average effective purchase price of $117,683 per BTC, a cost basis that the company states was reduced by premiums from derivative sales.

This strategic shift follows a private placement where the company raised over $500 million, with the intention of using at least 95% of the proceeds to acquire Bitcoin. Volcon has partnered with Gemini for its digital asset services and custody, moving its settled BTC holdings into segregated cold storage for security.
Volcon, Inc. (NASDAQ: VLCN), a company that previously specialized in all-electric off-road powersports vehicles, has significantly changed its business strategy to focus on a Bitcoin treasury program. The company, which is in the process of changing its name to Empery Digital Inc., recently announced it acquired an additional 316.8 BTC for approximately $37.3 million.

This acquisition brings its total holdings to over 3,500 BTC, which were purchased for an aggregate price of around $412 million. This reflects an average effective purchase price of $117,683 per BTC, a cost basis that the company states was reduced by premiums from derivative sales.

This strategic shift follows a private placement where the company raised over $500 million, with the intention of using at least 95% of the proceeds to acquire Bitcoin. Volcon has partnered with Gemini for its digital asset services and custody, moving its settled BTC holdings into segregated cold storage for security.

Volcon, Inc. (NASDAQ: VLCN), a company that previously specialized in all-electric off-road powersports vehicles, has significantly changed its business strategy to focus on a Bitcoin treasury program. The company, which is in the process of changing its name to Empery Digital Inc., recently announced it acquired an additional 316.8 BTC for approximately $37.3 million.

This acquisition brings its total holdings to over 3,500 BTC, which were purchased for an aggregate price of around $412 million. This reflects an average effective purchase price of $117,683 per BTC, a cost basis that the company states was reduced by premiums from derivative sales.

This strategic shift follows a private placement where the company raised over $500 million, with the intention of using at least 95% of the proceeds to acquire Bitcoin. Volcon has partnered with Gemini for its digital asset services and custody, moving its settled BTC holdings into segregated cold storage for security.