SCHEDULE 13G: Empery Asset Management Discloses 9.99% Passive Stake in BTC Digital Ltd.

Empery Asset Management, along with its managing members Ryan M. Lane and Martin D. Hoe, has disclosed a 9.99% passive beneficial ownership stake in BTC Digital Ltd., including shares issuable from warrants, as of December 31, 2024.

Summary

• Empery Asset Management, LP, Ryan M. Lane, and Martin D. Hoe (collectively, "Reporting Persons") have filed a Schedule 13G with the SEC.
• The Reporting Persons collectively beneficially own 509,587 Ordinary Shares of BTC Digital Ltd.
• This ownership represents 9.99% of the outstanding Ordinary Shares of BTC Digital Ltd.
• The beneficially owned shares include 75,723 Ordinary Shares that are issuable upon the exercise of Warrants held by the Empery Funds.
• The percentage of ownership is calculated based on an aggregate of 5,025,249 Ordinary Shares outstanding as of December 9, 2024, as reported by BTC Digital Ltd.
• A "Blocker" provision in the Warrants prevents the Reporting Persons from exercising them to the extent that their beneficial ownership would exceed 9.99% of the outstanding Ordinary Shares.
• The filing certifies that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of BTC Digital Ltd.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently lead to a positive or negative sentiment regarding the issuer's performance or outlook. It indicates a significant passive investment by an institutional entity.

Positives

• The disclosure of a significant passive stake (9.99%) by an institutional investor like Empery Asset Management may signal institutional interest and confidence in BTC Digital Ltd.

Negatives

• The "Blocker" provision limits the ability of the Reporting Persons to increase their stake beyond 9.99% through warrant exercise, which could be perceived as a cap on their potential further investment via warrants.

Risks

• The document itself does not detail risks to BTC Digital Ltd.'s business operations or financial health; it primarily concerns the ownership structure of the Reporting Persons.

Future Outlook

The document does not provide any forward-looking statements or guidance from BTC Digital Ltd. or the Reporting Persons regarding the company's future operations or financial performance.

Industry Context

This Schedule 13G filing is a routine disclosure of a significant passive ownership stake by an institutional investor. It does not provide specific insights into broader industry trends for BTC Digital Ltd.'s sector, but it reflects standard investment activity where funds acquire substantial positions in publicly traded companies.

Comparison to Industry Standards

• The document does not provide specific comparable companies, projects, or results to assess BTC Digital Ltd.'s performance against global benchmarks. The filing is solely focused on the beneficial ownership disclosure of Empery Asset Management and its principals.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake might be viewed positively, potentially indicating increased institutional interest and liquidity.
• Employees, Customers, Suppliers, Creditors: The filing of a Schedule 13G, being a passive ownership disclosure, has no direct or immediate impact on these stakeholders.

Next Steps

• The document does not outline any specific future actions, events, or milestones for BTC Digital Ltd. or the Reporting Persons beyond the standard regulatory filing requirements.

Key Dates

Keywords

BTC Digital Ltd., Empery Asset Management, Schedule 13G, beneficial ownership, passive investment, ordinary shares, warrants, institutional investor, G6055H155