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This Week Volcon to Change Name to Empery Digital Inc.
Volcon, Inc. (NASDAQ:VLCN). (the "Company," "Volcon" or "Empery Digital") today announced updates to its bitcoin acquisition strategy and current holdings. Since its last update on July 25th, the company has acquired an additional 316.8 BTC for a total purchase price of $37.3 million. As of the time of this release, the Company holds 3,500.18 BTC acquired for an aggregate purchase price of ~$412 million, reflecting an average effective purchase price of $117,683 per BTC. The purchase price reflects the benefit of premiums received as part of the Company's broader BTC acquisition strategy which incorporates derivative sales to reduce the cost basis of BTC acquired. The Company sold additional short-term put contracts giving the Company the option to potentially buy additional BTC at strike prices between $115,000 and $118,000 at various times in the near future.
Posted In: VLCN
