Empery Digital (EMPD) Investor presentation summary

Strategic pivot and capital allocation

• Following a July 2025 $500M-plus PIPE, the strategy shifted from a Bitcoin treasury toward AI infrastructure investments alongside the Hunt family; first data center cash flow is expected in early 2027.

• The board weighed continued buybacks, liquidation and other strategic options before selecting investments intended to add lease income and long-term value.

• A $150M repurchase program bought back 26.2M shares below NAV; Bitcoin per share rose 39% from Aug. 27, 2025 to Mar. 2, 2026, while the NAV discount persisted.

• The prior vehicle business lost $165M on $12M revenue from 2021 through 2024; the new investments are presented as a path to sustainable cash flow.

Data center investments

• A $65M investment buys a 25% interest in a powered Midwest site with 150 MW available and a utility contract for ~150 MW more; lease execution was expected in September 2026.

• A non-binding LOI outlines a 15-year triple-net lease; expected payments to the investment are >$440M, starting in early 2027, with potential to roughly double after capacity upgrades.

• A separate $20M preferred equity investment represents ~8% of Cardinal Data Power; its West Texas campus has a 1.3 GW Phase I under LOI, first power targeted in 2027 and a path to >5 GW.

• The presentation cites power scarcity and U.S. grid interconnection queues of five to ten years; behind-the-meter generation is positioned to accelerate power availability for data centers.

Financial position

• As of Sept. 15, 2026, reported figures included $66.1M cash, $35.0M debt, $86.8M BTC value and $140.7M net asset value, or $4.72 per share; share price was $2.88.

• The two data center investments total $85M committed; the presentation states no build-out, power or operating costs are borne by the investing entity for the Midwest lease arrangement.

• The board and officers beneficially own 21.2% of shares; the chairman owns 17.5% and bought 1.9M shares in the open market in Aug. and Sept. 2026.