KULR Technology Expands Bitcoin Holdings by $10 Million to 610 BTC, For a Total of $60 Million in Bitcoin Acquisitions
The move aligns with KULR’s Bitcoin Treasury Strategy announced on December 4, 2024, wherein KULR committed up to 90% of its surplus cash reserves to be held in bitcoin
(Houston, Texas) Energy management platform company KULR Technology Group (NYSE American: KULR) announced this morning that it has increased its bitcoin purchases for its Bitcoin Treasury by an additional $10 million to reach a total of approximately $60 million in bitcoin acquisitions.
Photo courtesy of KULR Technology Group.
The additional purchases were made at a weighted average price of $103,905 per bitcoin, inclusive of fees and expenses; the company now holds 610.3 BTC, according to this morning’s press release.
This strategic move aligns with KULR’s Bitcoin Treasury Strategy announced on December 4, 2024, wherein KULR committed up to 90% of its surplus cash reserves to be held in bitcoin, according to the company.
Per today’s release: “Year to date, KULR has achieved a BTC Yield of 167.3%, leveraging a combination of surplus cash and its At-The-Market (ATM) equity program to fund purchases.KULR uses “BTC Yield” as a key performance indicator (KPI) for its Bitcoin Treasury strategy. BTC Yield is calculated as the percentage change period-to-period in the ratio of the Company’s bitcoin holdings to its assumed fully diluted shares outstanding. This KPI helps assess the effectiveness of KULR’s bitcoin acquisition strategy in a manner KULR believes drives shareholder value.”
