Bitcoin treasury firm Empery Digital has invested $20 million in powered data center developer Cardinal Data Power (CDP).
The investment gives Nasdaq-listed Empery an approximately eight percent stake in CDP and forms part of a $70 million Series A funding round led by Hood River Capital Management.
The transaction was signed and completed on July 20, according to an SEC filing.
CDP said the funding will support its inaugural data center campus in West Texas, where it has entered into a letter of intent covering a 750MW first phase.
The proposed campus has access to more than 3,500 acres and is expected to deliver its first power in 2027. CDP said the site could reach approximately 1GW of gross capacity in 2029 and support expansion beyond 5GW over time.
