KULR Adds $8M Worth of Bitcoin, Increasing Total Holdings to 510 BTC.

KULR Invests $8M in Bitcoin, Raising Total Holdings to 510 BTC

KULR (KULR), a leader in advanced energy-management systems, has purchased an additional $8 million worth of Bitcoin (BTC), bringing its total holdings to 510 BTC. The latest acquisition, made at an average price of $101,695 per Bitcoin, adds approximately 79 BTC to its portfolio, bringing the company’s total Bitcoin investment to $50 million.

This move follows the company’s December 4 announcement of a new strategy to invest some of its surplus cash into Bitcoin, in line with the increasing trend of public companies adopting Bitcoin as part of their treasury reserves.

Bitcoin Yield and Stock Performance

The company also reported an impressive 127% Bitcoin yield this year, which reflects the percentage change in the ratio of its Bitcoin holdings to its total shares outstanding. Since announcing its Bitcoin strategy, KULR’s NYSE-listed shares have surged 90%, while Bitcoin itself has gained 7%.

KULR’s shares closed at $2.28 on Friday and were up 2.2% in pre-market trading on Tuesday, signaling continued investor confidence in its forward-looking approach and the long-term potential of Bitcoin.

As more companies follow suit in embracing cryptocurrency, KULR’s growing Bitcoin holdings place it at the forefront of a trend that’s becoming more mainstream in corporate treasury management.