KULR Technology Group, Inc., a leader in advanced energy platforms, has announced a significant increase in its Bitcoin assets. This strategy aims to hold a large portion of the company's surplus reserves in cryptocurrency.
Increase in Bitcoin Purchases
KULR Technology Group recently announced additional Bitcoin purchases amounting to $10 million, bringing the total value of its assets to approximately $60 million. These purchases were made at a weighted average price of $103,905 per bitcoin, inclusive of fees and expenses. As a result, the company now holds 610.3 BTC.
KULR's Bitcoin Treasury Strategy
This move aligns with KULR's Bitcoin Treasury Strategy, first announced on December 4, 2024. Under this strategy, the company plans to hold up to 90% of its surplus cash reserves in Bitcoin. Year-to-date, KULR has demonstrated a BTC Yield of 167.3% by leveraging a combination of surplus cash and its At-The-Market (ATM) equity program to fund purchases. BTC Yield measures the change in KULR's Bitcoin holdings compared to its total shares outstanding.
Financial Results and Market Reaction
KULR's shares dropped nearly 2% in premarket trading, following a 28% increase on Monday. These fluctuations may be tied to the company's strategic shift amid ongoing cryptocurrency market volatility.
KULR Technology's decision to expand its Bitcoin holdings underscores the growing role of cryptocurrencies in corporate financial management. This could signal increased confidence in digital assets as a key part of the company's economic strategy.
