Volcon completed a private placement raising gross proceeds of over $500 million and has launched a Bitcoin treasury strategy. The company plans to allocate more than 95% of the private placement proceeds toward acquiring BTC and has credited net proceeds to custodial accounts at Gemini, with additional purchases already started. Volcon currently holds 280.14 BTC, including 235.83 BTC received in lieu of cash subscriptions from the placement. To execute the strategy it entered a Strategic Digital Assets Services Agreement with Gemini for institutional-grade custody and execution. The company plans to change its name to Empery Digital, Inc., update its ticker to EMPD, and rebrand the Volcon Power Sports division as Empery Mobility. Management and board changes include Ryan Lane joining as Co-CEO and Chairman and the appointment of Ian Read, Rohan Chauhan, and Matthew Homer to the board; the power sports business is being repositioned to an asset-light model.

Total raised

$500M

Funding rounds

1

Latest round

Equity

Latest activity

Jul 2025