How does EMPD's total BTC holding of 4,018.36 BTC compare to holdings of other publicly‑traded crypto‑exposure firms?
Relative size of EMPD’s BTC stash
Empery Digital (NASDAQ EMPD) now controls 4,018 BTC – roughly a $472 million position at the company’s average cost of $117,552 per coin. In the universe of publicly‑traded crypto‑exposure stocks, that places EMPD in the upper‑mid tier of BTC owners.
| Company (Ticker) | BTC held (approx.) | % of total BTC supply* |
|---|---|---|
| Marathon Digital (MARA) | ~120,000 BTC | 0.6 % |
| Hive Blockchain (HIVE) | ~30,000 BTC | 0.15 % |
| Galaxy Digital (GLXY) | ~16,000 BTC | 0.08 % |
| Bitwise Crypto Fund (BITW) | ~10,000 BTC | 0.05 % |
| Empery Digital (EMPD) | 4,018 BTC | 0.02 % |
| Total BTC supply ≈ 19 M BTC |
Thus, EMPD’s holding is substantially larger than most equity‑listed exposure vehicles (e.g., Bitwise, Galaxy, Hive) but still an order of magnitude smaller than the biggest miners such as Marathon.
Trading implications
- Fundamental exposure: With ~4k BTC, EMPD’s balance sheet is heavily tied to Bitcoin’s price. A 10 % move in BTC translates to a ~$47 million swing in the company’s underlying asset value – a material driver of earnings and cash‑flow for a firm whose market cap is in the low‑hundreds of millions.
- Valuation vs cost basis: The average purchase price of $117.5k per BTC is still well above the current market level (≈$28k‑$30k at the time of writing). The “paper loss” on the BTC position is sizable, meaning the stock is likely priced with a discount to the underlying asset. A sustained BTC rally back toward $100k would compress that discount dramatically and could trigger a sharp upside in EMPD’s equity.
- Risk management: Because the holding is modest compared to pure‑play miners, EMPD’s share price is also more sensitive to broader equity market dynamics and corporate‑level cash‑burn. Traders should size exposure to EMPD as a beta‑play on Bitcoin rather than a pure‑play on mining profitability—use a tight stop if BTC shows a downtrend, and consider a long‑biased position or call‑option play if you anticipate a medium‑term BTC up‑trend (e.g., 10‑15 % over the next 4‑6 weeks).
In short, EMPD’s 4,018 BTC makes it a significant but not dominant BTC holder among listed crypto‑exposure firms. The stock offers a leveraged way to capture Bitcoin’s upside while still bearing equity‑market risk, so traders should treat it as a high‑beta, medium‑risk vehicle and position accordingly.