Volcon, Inc. (NASDAQ: VLCN) has disclosed its Bitcoin holdings and outlined its treasury strategy, while also announcing an increase in its authorized stock repurchase program to $100 million.
As of July 25th at 8:00 AM ET, Volcon held 3,183.37 BTC, acquired for an aggregate purchase price of approximately $375 million, resulting in an average purchase price of $117,697 per BTC. The company has also engaged in selling various short-term put contracts, which provide the opportunity to potentially acquire additional Bitcoin at strike prices of $115,000, $116,000, and $117,000, while generating option premiums to reduce the effective cost of the BTC. This strategy aligns with Volcon’s ongoing Bitcoin acquisition approach.
Ryan Lane, Co-CEO of Volcon, stated, “Our treasury strategy reflects our conviction in Bitcoin as a durable, long-term store of value and a powerful treasury reserve asset. As a continuous aggregator of BTC, we will leverage our team’s decades of hedge fund experience to implement creative ways to lower the effective purchase price of BTC as we look to offer investors the most efficient, least dilutive, and lowest-cost means of gaining exposure to Bitcoin through the public equity market treasury structure.”
In addition to its Bitcoin strategy, Volcon announced that its board of directors has approved an increase to its current stock repurchase program. The company is now authorized to repurchase up to $100 million of its outstanding common stock (par value $0.00001) over the next 24 months. This program aims to support the net asset value (NAV) per share and potentially increase Bitcoin holdings per share at share prices below NAV. Repurchases may occur through open market transactions at prevailing market prices, privately negotiated transactions, or other methods compliant with federal securities laws. The timing, volume, and value of shares repurchased will be determined by management, based on factors including market price, economic conditions, and legal requirements. The board will periodically review the program and may modify, suspend, or terminate it as deemed necessary. Volcon anticipates funding any repurchases from its existing cash balance.
Volcon adopted its Bitcoin treasury strategy, with the objective of becoming a low-cost, capital-efficient, globally trusted aggregator of Bitcoin, effective July 17, 2025. Originally, Volcon was established as an all-electric power sports company, focusing on providing high-quality, sustainable electric vehicles for outdoor enthusiasts.
