Volcon is shifting towards a low-cost, asset-light business model, aiming to reposition its power sports division and leverage international relationships for product sourcing.

The company plans to rebrand as Empery Digital, Inc., with its power sports division renamed Empery Mobility, and will adopt a new ticker symbol, EMPD.

This rebranding aligns with its strategic shift to focus on digital assets and modernize its corporate identity.

The private placement attracted investments from notable crypto venture capital firms like FalconX, Pantera, and Borderless, alongside traditional investors and management.

The transaction was conducted under exemptions from securities laws, with plans to file a registration statement with the SEC for resale of shares.

Volcon partnered with Gemini for custody and execution services to support its Bitcoin treasury strategy, aiming to increase its Bitcoin holdings significantly.

Volcon, Inc. has successfully raised over $500 million through a private placement, with more than 95% allocated to acquiring Bitcoin as part of its new treasury strategy.

Currently, Volcon holds 280.14 BTC, including 235.83 BTC obtained through cash subscriptions in the private placement, and plans to significantly increase its holdings.

The company partnered with Gemini for custody and execution services to implement its Bitcoin treasury strategy, leveraging Gemini's expertise in digital assets.

Despite a slight decline in stock price to $16.74 on July 21, 2025, Volcon's stock surged over 116% in the previous five days, reflecting investor interest.

New board members include Ryan Lane, who will lead the treasury strategy, along with former Pfizer CEO Ian Read and representatives from Gemini, bringing extensive management and digital asset experience.

Ryan Lane's appointment as Co-CEO & Chairman emphasizes the company's focus on a low-cost, investor-centric Bitcoin treasury approach.