Volcon has raised over $500 million to launch its Bitcoin financial strategy.

On July 17, the American electric vehicle company Volcon announced that it will adopt a Bitcoin financial strategy, having reached securities purchase agreements with certain institutions and accredited investors to privately sell and purchase 50,142,851 shares of common stock at a price of $10 per share, with expected total proceeds exceeding $500 million, net of placement agent fees and other issuance expenses (private sale). Empery serves as the lead investor, and participants in this issuance include well-known encryption venture capital firms and infrastructure providers such as FalcolnX, Pantera, Borderless, RK Capital, and Relayer Capital, as well as TradFi investors. This issuance is expected to be completed around July 21, 2025, subject to customary closing conditions. The company plans to immediately use at least 95% of the total proceeds to acquire Bitcoin, which will serve as the company's primary financial reserve asset.