DoD tests AI models that make it easy to switch from vendors like Palantir
Volcon Inc. (VLCN) acquired an additional 316.8 bitcoin for $37.3 million since its last update on July 25, according to a company statement. The company now holds 3,500.18 bitcoin purchased for an aggregate price of approximately $412 million, reflecting an average purchase price of $117,683 per bitcoin.The purchase price incorporates premiums received from the company’s bitcoin acquisition strategy, which includes derivative sales to reduce the cost basis of bitcoin acquired. Volcon sold additional short-term put contracts that provide the option to potentially purchase more bitcoin at strike prices between $115,000 and $118,000.The company completed a $500 million private placement and worked with Gemini’s over-the-counter desk for trade execution. The settled bitcoin holdings have been moved to segregated cold storage, according to Ryan Lane, Co-CEO and Chairman of Volcon.Volcon plans to change its name to Empery Digital Inc. this week. The company adopted a bitcoin treasury strategy on July 17, 2025, shifting from its original focus as an electric power sports vehicle manufacturer.The company was originally founded as an all-electric power sports company that sourced electric vehicles for outdoor recreation. Volcon’s electric vehicles were designed for off-road use, featuring near-silent operation for outdoor experiences.