KULR Technology Adds $8 Million in Bitcoin to Treasury Holdings
KULR Technology Group has expanded its bitcoin holdings with an additional $8 million purchase, bringing its total bitcoin investment to $50 million. The company acquired the new bitcoins at an average price of $101,695 per bitcoin, including fees. KULR now holds 510 BTC in its treasury.
The latest purchase follows KULR's Bitcoin Treasury Strategy announced on December 4, 2024. Under this strategy, the company plans to allocate up to 90% of its surplus cash reserves to bitcoin holdings.
KULR reported a Bitcoin Treasury yield of 127% year to date. The company funded these purchases through a combination of surplus cash and its At-The-Market (ATM) equity program. KULR tracks its bitcoin strategy performance using "BTC Yield," which measures the change in the ratio between bitcoin holdings and assumed fully diluted shares outstanding.
The company notes that BTC Yield serves as a supplementary metric and should not be viewed as a measure of operating performance or financial returns. The measurement does not account for company liabilities or overall financial position, and it differs from traditional yield calculations.
KULR Technology Group specializes in energy storage solutions for space, aerospace, and defense sectors. The company develops both commercial and custom energy storage systems, utilizing its expertise in battery design, testing, and production capabilities.
The stock price of KULR, traded on the NYSE American under the symbol KULR, is influenced by multiple factors beyond its bitcoin holdings. The company maintains its focus on advancing shareholder value while following disciplined financial management practices.
