KULR Technology Group Inc. acquired 118.6 bitcoin for approximately $13 million, increasing its corporate treasury holdings.
Publicly Traded Firm KULR Acquires 118.6 Bitcoin, Treasury Reaches 920 BTC
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The purchase price averaged roughly $107,861 per bitcoin, the company stated Monday. This brings KULR’s total bitcoin holdings to 920 BTC. Those 920 BTC represent a total investment of about $91 million, acquired at an average price of $98,760 each. KULR funds its bitcoin acquisitions using cash reserves and proceeds from its At-The-Market equity program. The company reported a year-to-date bitcoin yield of 260%. KULR trades on the NYSE American under KULR and specializes in sustainable energy management for aerospace and defense. KULR recently joined the “Bitcoin for Corporations” initiative. This partnership provides institutional-grade tools for managing its bitcoin strategy. KULR positions bitcoin as a long-term reserve asset. It identifies itself as a “Bitcoin First Company” within its energy tech business.
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