Empery Digital to Invest $65 Million in Private Entity Acquiring Midwest AI Data Center Property
Empery Digital (EMPD) said Tuesday that it has agreed to invest $65 million, representing a 25% stake, in a private entity that it acquiring a Midwest facility to be converted into an artificial intelligence data center.The facility has operated as an industrial facility for the past three years and includes an owned substation and associated infrastructure for the about 150 megawatt of available capacity under an existing agreement, the company said.Empery Digital has also entered into a partnership with Hunt Properties to evaluate and acquire powered land properties with secured tenants suitable for AI and computing data center development, the company said.Empery Digital also will discontinue the treasury dashboard as it believes its net asset value based on Bitcoin holdings no longer fully reflects the total NAV of the company, according to a statement.The company investment is slated to be completed in Q3, subject to customary closing conditionsPrice: $3.53, Change: $-0.18, Percent Change: -4.85%
