KULR Technology Increases Bitcoin Holdings to 668 BTC With $5M Purchase
KULR Technology (KULR), a leader in advanced energy management, has expanded its Bitcoin (BTC) holdings with a $5 million acquisition, reinforcing its long-term treasury strategy.
The latest purchase, executed at an average price of $88,824 per BTC, brings KULR’s total Bitcoin reserves to 668.3 BTC, according to CEO Michael Mo. This aligns with the company’s strategic plan, first introduced in December, which permits up to 90% of its surplus cash reserves to be allocated to Bitcoin.
Overall, KULR has invested approximately $65 million into Bitcoin, with an average acquisition cost of $97,305 per token. At current market prices around $87,000, the company’s BTC holdings are valued at just over $58 million.
Year to date, KULR has achieved a Bitcoin yield of 181.1%, leveraging a combination of cash reserves and its at-the-market (ATM) equity program to finance purchases. The company uses Bitcoin yield as a key performance indicator (KPI), measuring the percentage change in the ratio of BTC holdings to its fully diluted shares outstanding, reflecting its ability to increase exposure to Bitcoin while managing shareholder dilution.
Following the announcement, KULR stock is up 3.5% in pre-market trading.
