A new chapter of corporate Bitcoin integration appears to be unfolding.

As the adoption of Bitcoin (BTC) in corporate strategies continues to evolve, a new wave of publicly traded companies is jumping on the bandwagon, following in the footsteps of MicroStrategy’s groundbreaking decision to include Bitcoin as a treasury asset in 2020. MicroStrategy’s bold move has since yielded an impressive 2,500% surge in its share price, largely due to its regular Bitcoin acquisitions funded through a variety of methods, including cash reserves, equity offerings, and convertible debt.

In 2024, several companies have begun to embrace similar strategies. Firms like Metaplanet (3350), Semler Scientific (SMLR), and MARA Holdings (MARA), as well as a growing number of publicly listed mining companies, have followed suit and experienced substantial growth.

KULR Technology Group (KULR), listed on the NYSE, is the most recent company to join the trend. The company made waves by announcing a $21 million Bitcoin purchase, bringing its total holdings to 430 BTC, with an average acquisition price of $98,393 per token. The purchase was financed through a combination of an ATM equity program and surplus cash. KULR has also implemented a Bitcoin yield strategy, with a remarkable 93.7% yield from December 2024 to January 2025. Since November 19, KULR’s share price has skyrocketed by 847%.

However, some companies have disclosed plans for Bitcoin treasury strategies without executing any acquisitions yet. Acurx Pharmaceuticals (ACXP), listed on the Nasdaq, announced approval for a $1 million Bitcoin purchase on November 20. Despite a 35% drop in share price since then, the company has seen a 30% increase year-to-date.

Hoth Therapeutics (HOTH), another Nasdaq-listed company, followed suit by approving a $1 million Bitcoin purchase on November 20, though no purchase has been made so far. The company’s share price has grown by 2% since the announcement.

LQR House (YHC), also listed on the Nasdaq, approved a $1 million Bitcoin treasury strategy on November 19. This strategy includes accepting cryptocurrency payments and holding up to $10 million in Bitcoin. LQR’s share price has surged by 56% since the announcement.

SOS Limited (SOS), trading on the NYSE, approved a $50 million Bitcoin purchase on November 27, when Bitcoin’s price was around $93,000. Despite this, the company has seen its share price decline by 30% since the announcement.

Enlivex Therapeutics (ENLV), another Nasdaq-listed firm, authorized a $1 million Bitcoin purchase on November 20. Since then, its share price has risen by 18%.

Among these companies, KULR stands out as the only firm to have made an actual Bitcoin purchase, resulting in a substantial increase in its stock price. This highlights the market’s positive reaction to tangible action, suggesting that companies with actual Bitcoin acquisitions may see stronger performance compared to those simply announcing intentions. As more firms recognize the potential of Bitcoin as part of their treasury strategies, the digital asset continues to gain prominence in corporate financial planning.