Per the firm today, March 9, Austin-based company Empery Digital sold 102 BTC at $71,636 per coin just last week, earning approximately $7.3 million in gross revenue that was immediately channeled into cash reserves and share repurchases.

This news came amid increasing board pressure from active shareholders ATG Capital and Tice P. Brown, who submitted competing director nominations for the company’s 2026 annual meeting on March 2.

The sale, however, was swallowed up by broader corporate treasury buying, as it firms combined for about $1.28 billion in net inflows (about 18,061 BTC) in the same period, with major players like Strategy leading the accumulation.

Empery shareholders force strategic pivot

Empery’s decision to sell rather than accumulate Bitcoin is a telltale sign of a company under siege. On March 2, 2026, ATG Capital and Tice P. Brown both submitted nomination notices informing Empery’s board of directors of their intent to nominate competing directors at the next annual meeting.

The date for the meeting has not been announced yet, but the nominations seem to be a sign of dissatisfaction with current management.

The board battle goes back several weeks. On February 24, Empery issued a statement disputing earlier claims from Brown about alleged conversations with the broker executing the company’s share repurchase program.

“Mr. Brown never had a conversation with the broker executing the Stock Repurchase Program on behalf of Empery Digital,” the company stated, adding that Brown’s assertions were part of a “self-serving campaign.”

At the time, Empery chose to respond by doubling down on buybacks funded by Bitcoin sales. As of March 6, Empery repurchased 20,175,242 shares at $6.06 per coin (including fees and commissions) under its $200 million share repurchase program.

This brought the total number of outstanding shares to 31,244,993.

The strategy is clear – sell Bitcoin to buy shares.

“Management intends to leverage existing cash balances and reduce its bitcoin holdings as needed to fund future share repurchases and potentially repay additional portions of outstanding borrowings,” the company stated.

Strategy leads $1.28 billion weekly buying

While Empery’s sale may seem a bit worrying for some, the rest of the corporate buyers have canceled out those concerns with their own acquisitions.

In the last seven days, corporate treasuries have added $1.28 billion in net Bitcoin inflows, with 18,061 BTC going into various balance sheets. The buying trend has now pushed total corporate holdings to 999.21k BTC across 42 companies monitored by SoSoValue, valued at a combined $69.33 billion.

Strategy is still the market leader, acquiring 17,994 BTC in its latest purchase and solidifying its position as the largest corporate treasury (worth around $50 billion currently).

Other corporate players who participated in last week’s trading include Brazilian firm OrangeBTC, which added 0.7 BTC to its holdings, and DayDayCook, with a 65 BTC acquisition, bringing its total holdings up to 2,183 BTC.

Twenty One Capital, with its 43,500 BTC ($3 billion) and Metaplanet’s 35,102 BTC, worth around $2.42 billion, remain near the top of the pole.

Annual meeting looms

The current tensions at Empery will most likely come to a head at the 2026 annual meeting, where the director nominations from ATG Capital and Tice P. Brown will force shareholders to choose between management’s buyback strategy or concede to the demands for a different approach.

Empery still holds 3,562 BTC, which gives the company enough flexibility to continue its current strategy or change direction if new leadership takes control. As things stand, the current management has committed to reducing holdings as needed, meaning that more sales will occur unless changes are made.

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