Empery Digital Responds to Major Shareholder Proposal: Will Not Liquidate Bitcoin Assets

March 3 — Empery Digital Inc., a Bitcoin treasury firm, pushed back against certain shareholders’ demands to liquidate its Bitcoin assets on Wednesday, stating it will not sell its Bitcoin reserves and deeming the proposed action not in the best interests of all shareholders. The company noted in a statement that its board and management have thoroughly reviewed the proposals, concluding the mathematical logic behind immediately liquidating all Bitcoin holdings is invalid and would deprive shareholders of potential gains from future Bitcoin price increases. Management emphasized the firm’s current core strategy focuses on optimizing its capital structure, executing share buybacks, and boosting the “per Bitcoin” metric to narrow the discount between its share price and Net Asset Value (NAV). Since launching its Bitcoin treasury strategy, Empery Digital has implemented one of the largest share buyback programs in the digital asset treasury sector, significantly increasing per-Bitcoin holdings by repurchasing shares when its stock trades below NAV. The firm disclosed that per-Bitcoin holdings have risen by roughly 39% since the end of August 2025, while the NAV discount has narrowed notably since late January 2026. Regarding the shareholder proposal, Empery Digital said the relevant shareholders failed to engage in sufficient communication with the board, and some public statements contain inaccurate, misleading claims. The company will disclose the board’s recommendations via formal proxy materials ahead of its upcoming 2026 annual shareholder meeting and urged shareholders to focus on long-term value creation goals.