KULR Technology Increases Bitcoin Holdings With $5M Investment, Total Now at 668 BTC
KULR Technology (KULR), a leader in energy management solutions, has further expanded its Bitcoin (BTC) reserves by acquiring an additional $5 million worth of the digital asset, solidifying its commitment to a Bitcoin-based treasury strategy.
The latest purchase, made at an average price of $88,824 per BTC, raises KULR’s total Bitcoin holdings to 668.3 BTC, according to CEO Michael Mo. This move follows the company’s December announcement that allows up to 90% of its surplus cash reserves to be allocated to Bitcoin.
In total, KULR has invested around $65 million in Bitcoin, with an average acquisition cost of $97,305 per BTC. Given Bitcoin’s current market price of approximately $87,000, the company’s holdings are now valued at just over $58 million.
KULR’s Bitcoin yield has reached 181.1% year to date, a key performance indicator (KPI) that reflects the percentage change in the company’s BTC holdings relative to its fully diluted shares outstanding. The company has utilized a combination of cash reserves and its at-the-market (ATM) equity program to fund its Bitcoin acquisitions.
Following the announcement, KULR’s stock is up 3.5% in pre-market trading.
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