Volcon Inc. Acquires $375M Worth of Bitcoin, Expands Stock Repurchase Authorization

Volcon Inc. has announced it holds 3,183.37 Bitcoins worth approximately $375 million, purchased at an average price of $117,697 per coin. The company has also expanded its stock repurchase authorization to $100 million, to be executed over 24 months. Volcon aims to support share value and increase the BTC-per-share ratio when the stock trades below net asset value.

Volcon Inc. (NASDAQ: VLCN), formerly known as Empery Digital, has made significant moves in its cryptocurrency strategy. The company has acquired 3,183.37 Bitcoins (BTC) for approximately $375 million, according to a press release dated July 25, 2025 [1]. The acquisition represents an average purchase price of $117,697 per BTC.

The company's Co-CEO, Ryan Lane, stated that Bitcoin is being used as a durable, long-term store of value and a powerful treasury reserve asset. In addition to its direct Bitcoin purchases, Volcon has sold short-term put contracts that could enable it to acquire additional Bitcoin at strike prices of $115,000, $116,000, and $117,000, while collecting option premiums to reduce its overall BTC acquisition costs.

Volcon has also expanded its stock repurchase program, increasing the authorization to $100 million over the next 24 months. This move provides flexibility to support the company’s net asset value (NAV) per share and potentially increase its Bitcoin holdings per share when stock prices trade below NAV. Repurchases may occur through open market transactions, private negotiations, or other means in accordance with federal securities laws, and will be funded from existing cash reserves [2].

The timing, quantity, and value of shares to be repurchased will be determined by management based on market conditions, stock price, and other factors, with the board reviewing the program periodically.

Volcon's aggressive Bitcoin acquisition strategy is not unique. MicroStrategy, another prominent corporate Bitcoin holder, has also been expanding its Series A perpetual preferred stock offering to $2 billion to buy more Bitcoin [3]. The company currently holds over 607,770 BTC valued at more than $72 billion.

These moves highlight the growing trend of companies using Bitcoin as a strategic asset, aiming to benefit from its potential as a store of value and hedge against inflation. However, such strategies come with risks, including regulatory uncertainty and market volatility.

References:
[1] https://www.investing.com/news/stock-market-news/volcon-stock-surges-after-firm-acquires-over-3000-bitcoin-93CH-4153404
[2] https://www.livebitcoinnews.com/microstrategy-expands-series-a-to-2-billion-to-buy-more-bitcoin/
[3] https://www.sec.gov/Archives/edgar/data/1829794/000168316825005371/volcon_8k.htm