According to TechFlame, according to Businesswire, Volcon (NASDAQ: VLCN) announced that it has purchased 316.8 new bitcoins since July 25, with a total purchase price of $37.3 million. At press time, the company held 3500.18 bitcoins, with a total investment of around $412 million, and an average purchase cost of $117,683. The company reduced the cost of purchasing Bitcoin through derivatives strategies and sold some short-term put options at an exercise price between $115,000 and $118,000. Notably, Volcon has changed its name to Empery Digital Inc., and transferred its Bitcoin holdings to isolated cold storage. The company previously completed a $500 million private equity round and plans to use more than 95% of the capital for Bitcoin acquisitions.