- KULR Technology Group (KULR, Financial) increases Bitcoin holdings to 920 BTC, valued at $91 million.
- Joined the "Bitcoin for Corporations" initiative, enhancing institutional Bitcoin adoption.
- Achieved a 260% Bitcoin yield year-to-date utilizing cash and equity financing.
KULR Technology Group (KULR), a leader in sustainable energy management, has announced a significant expansion in its Bitcoin investment strategy. The company has increased its Bitcoin holdings, acquiring an additional 118 BTC at an average cost of $107,861 per Bitcoin. This acquisition raises KULR's total Bitcoin treasury to 920 BTC, with an overall average purchase price of $98,760. The company's total Bitcoin investment now stands at $91 million.
As part of its strategic growth in cryptocurrency, KULR has joined the "Bitcoin for Corporations" initiative. This platform, led by Strategy™ and Bitcoin Magazine, aims to accelerate institutional adoption of Bitcoin by providing access to institutional-grade tools and frameworks, thereby enriching corporate Bitcoin treasury strategies.
The company has reported a 260% year-to-date yield on its Bitcoin investments. This impressive performance has been funded through a combination of cash reserves and its At-The-Market (ATM) equity financing program. However, this approach could lead to shareholder dilution as the company integrates Bitcoin deeper into its treasury strategy.
Michael Mo, CEO of KULR, emphasized the company's commitment to Bitcoin as a monetary asset, reflecting a broader strategic focus on using Bitcoin as a long-term reserve asset. The move aligns KULR with an emerging trend among public companies to hold Bitcoin as a core reserve, diverging from traditional cash equivalents.
