KULR Technology Expands Bitcoin Reserves With $5M Purchase of 56 BTC, Now Holds 668 BTC

KULR Technology Boosts Bitcoin Holdings With $5M Purchase, Now Holds 668 BTC

KULR Technology (KULR), a leading innovator in energy management, has further expanded its Bitcoin (BTC) reserves by acquiring an additional $5 million worth of the cryptocurrency.

The latest purchase was made at an average price of $88,824 per BTC, bringing KULR’s total Bitcoin holdings to 668.3 BTC, according to CEO Michael Mo. This move aligns with the company’s treasury strategy, announced in December, which allows for up to 90% of surplus cash reserves to be allocated to Bitcoin.

In total, KULR has spent around $65 million accumulating Bitcoin, with an average acquisition cost of $97,305 per token. At current market prices of approximately $87,000 per BTC, the company’s holdings are valued at just over $58 million.

KULR has reported a Bitcoin yield of 181.1% year to date, utilizing a mix of cash reserves and its at-the-market (ATM) equity program to fund acquisitions. The company tracks Bitcoin yield as a key performance metric, measuring the change in BTC holdings relative to its fully diluted shares outstanding, showcasing its ability to increase exposure to Bitcoin while balancing shareholder dilution.

Following the news, KULR’s stock price is up 3.5% in pre-market trading.