Bitcoin News Today: Volcon Acquires 280.14 Bitcoins in $500 Million Private Placement

Volcon, a publicly traded electric vehicle company, has made its first purchase of 280.14 bitcoins and completed a private placement exceeding $500 million to acquire Bitcoin. This move marks a significant shift in the company's financial strategy, as it aims to build a trusted global Bitcoin treasury. The private placement saw participation from prominent crypto venture capital firms, blockchain infrastructure providers, and traditional financial investors, as well as the management team and board of directors. The company has entered into a Strategic Digital Assets Services Agreement with a crypto platform to execute its Bitcoin treasury strategy.

The company plans to change its name to Empery Digital, Inc. and its ticker to EMPD. The Volcon Power Sports business will adopt the name Empery Mobility. This rebranding is part of the company's broader strategy to offer opportunities for investors to invest through additional listings on multiple trading markets. The net proceeds from the transaction have already been credited to the company’s custodial accounts at the crypto platform, and additional Bitcoin purchases have commenced.

Volcon has appointed several key figures to its Board of Directors, including Ryan Lane, Ian Read, Rohan Chauhan, and Matthew Homer. Mr. Lane, a founder and principal at Empery Asset Management, has joined the company as Co-CEO & Chairman of the Board. He will lead the treasury strategy with the objective of running a low-cost, broadly listed, and investor-focused approach. Mr. Read, former CEO & Chairman of a major pharmaceutical company, brings 40 years of senior management and corporate governance experience. Mr. Chauhan, Director of Strategy at the crypto platform, will bridge the relationship between traditional finance and the digital asset ecosystem. Mr. Homer, a board member of a venture capital firm, brings his extensive digital assets and regulatory experience.

The company has not made any equity sales under its existing at-the-market sales agreement since announcing the transaction, and all future sales will be subject to market conditions. The offer and sale of the securities were made in a private placement in reliance on an exemption from the registration requirement of the Securities Act of 1933. The company has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock.

Volcon was founded as the first all-electric power sports company sourcing high-quality and sustainable electric vehicles for the outdoor community. Effective as of July 17, 2025, the company adopted a Bitcoin treasury strategy with the goal of becoming a leading, low-cost, capital-efficient, globally trusted aggregator of Bitcoin. This strategic move is expected to position the company as a key player in the digital asset space, leveraging its financial strength and industry expertise to drive growth and innovation.