en.Wedoany.com Reported - Bitcoin treasury management company Empery Digital has invested $65 million to acquire equity in an entity affiliated with Hunt Properties. The entity is used to acquire an industrial site in the U.S. Midwest and convert it into an AI data center.
The Nasdaq-listed company stated it will hold a 25% stake in the private acquisition entity purchasing the facility. The facility has approximately 150 MW of available power capacity under existing utility agreements. A recent load study indicates the site's power supply capacity could be expanded to approximately 300 MW to meet AI workload demands.
The site has operated as a high-power-consuming industrial facility for the past three years and includes its own substation and related infrastructure, though its specific location has not been disclosed.
According to a filing with the U.S. Securities and Exchange Commission (SEC), the parties have reached a definitive agreement to acquire 100% equity of the current property holder for approximately $230 million. The acquisition is subject to due diligence and other closing conditions, with the review period currently expected to end on July 29, 2026, unless extended. Empery expects the transaction to close in the third quarter of 2026 but noted that there is no guarantee it will be completed.
The investment is being made through EMHU, LLC, a Delaware limited liability company. TexStack Infrastructure, a subsidiary of Cardinal Power affiliated with Hunt Properties, holds 75% of the common units and serves as the managing member. Empery holds the remaining 25% through its subsidiary Volcon Epowersports.
Empery has currently contributed $2.9 million and committed to an additional $62.1 million at closing. According to the filing, Cardinal Power has contributed $2.5 million and is expected to contribute an additional $192.5 million in the form of in-kind contributions. The Hunt affiliate has also signed a non-binding letter of intent with a "leading computing provider" for a triple net lease, under which the computing provider will in turn serve a global AI hardware company. Empery stated that this lease could generate up to $1 billion in net lease payments, an amount that could roughly double if the planned power upgrades are completed.
In a subsequent announcement, Empery stated that its funding obligation is limited to $65 million, corresponding to its 25% ownership interest. Under the terms of the non-binding letter of intent, the potential tenant will bear the costs of data center construction, power usage, and operations. This transaction marks a shift in Empery's capital allocation strategy. The company, formerly known as Volcon, was renamed Empery Digital in July 2025 as part of its pivot to a bitcoin treasury strategy. The company now states it still holds bitcoin but currently has no plans to acquire more, and may sell bitcoin to fund this project and similar future opportunities.
