The publicly listed company Volcon increased its holdings by 316.8 BTC, with a total holding of over 3,500 BTC

ChainCatcher news, according to Businesswire, Volcon (NASDAQ: VLCN) announced that since July 25, it has acquired an additional 316.8 bitcoins, with a total purchase price of $37.3 million.

As of the time of publication, the company holds 3,500.18 bitcoins, with a total investment of approximately $412 million, and an average purchase cost of $117,683. The company has reduced its bitcoin acquisition costs through derivative strategies while selling some short-term put options with strike prices between $115,000 and $118,000.

It is worth noting that Volcon has changed its name to Empery Digital Inc. and has transferred its bitcoins to a segregated cold storage. The company previously completed a $500 million private placement and plans to use over 95% of the funds for bitcoin acquisitions.