Empery Digital said it invested $20 million in Cardinal Data Power, acquiring an approximately 8% stake in the private developer of powered data center campuses.
The investment, which was a component of Cardinal Data Power’s about $70 million Series A funding, would aid in the construction of a 750 megawatt data center facility in West Texas. The project is anticipated to start producing electricity in 2027, grow to around 1 gigawatt by 2029, and finally surpass 5 gigawatts.
Cardinal develops powered data center campuses for artificial intelligence and high-performance computing workloads. The company said it combines power generation, natural gas supply and electrical infrastructure to accelerate development of large-scale computing sites.
After switching from its previous electric power-sports business in mid-2025, Empery established a Bitcoin (BTC) treasury strategy, which it has been abandoning. The business said earlier this month that it has sold around 1,400 Bitcoin for nearly $87.1 million over the course of two months, using the money to pay off debt and invest in AI technology.
The sale came as Empery faced mounting pressure from shareholder Tice P. Brown, who called on the company to abandon its treasury strategy and sought the resignation of its chief executive officer and board. The transactions reduced the company’s Bitcoin holdings to 1,514 BTC. Empery had previously held as many as 4,081 BTC before beginning to trim its position in March, according to data from BitcoinTreasuries.NET.
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