KULR Expands Bitcoin Holdings with $8M Investment, Reaching 510 BTC
KULR (KULR), a provider of advanced energy-management systems, has made another significant move in the cryptocurrency market, purchasing $8 million worth of Bitcoin (BTC). This latest purchase adds 11,000 BTC to the company’s portfolio, bringing its total Bitcoin holdings to 510 BTC, with a total investment value of $50 million.
The acquisition was made at an average price of $101,695 per Bitcoin. The purchase follows KULR’s December 4th announcement, where the company revealed it would invest part of its surplus cash in Bitcoin, reflecting a broader trend among public companies adopting Bitcoin as a store of value.
Impressive Performance in Bitcoin Yield and Stock Price
KULR has reported an outstanding 127% Bitcoin yield this year, calculated by measuring the change in its Bitcoin holdings relative to its total shares outstanding. The company’s decision to embrace Bitcoin has paid off, as its NYSE-listed stock has soared by 90% since the announcement, while Bitcoin itself has gained 7% during the same period.
KULR’s shares closed at $2.28 on Friday and were up 2.2% in pre-market trading on Tuesday, reflecting investor confidence in its ongoing Bitcoin strategy.
As more companies embrace Bitcoin as part of their financial strategy, KULR’s increasing Bitcoin holdings position it as a key player in the ongoing shift toward cryptocurrency adoption in corporate treasuries.
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