KULR Technology Expands Bitcoin Reserves With $5M Purchase, Total Holdings Reach 668 BTC
KULR Technology (KULR), a leader in energy management innovation, has strengthened its Bitcoin (BTC) portfolio by acquiring an additional $5 million worth of the cryptocurrency, reinforcing its long-term treasury strategy.
The latest acquisition, executed at an average price of $88,824 per BTC, brings KULR’s total Bitcoin holdings to 668.3 BTC, according to CEO Michael Mo. This aligns with the company’s strategy, introduced in December, which allows up to 90% of its surplus cash reserves to be allocated to Bitcoin.
To date, KULR has invested approximately $65 million in Bitcoin at an average purchase price of $97,305 per BTC. With Bitcoin currently trading around $87,000, the company’s holdings are now valued at just over $58 million.
Year to date, KULR has achieved a Bitcoin yield of 181.1%, a performance metric that tracks the percentage change in BTC holdings relative to its fully diluted shares outstanding. The company has used a mix of cash reserves and its at-the-market (ATM) equity program to fund its Bitcoin purchases.
Following the news, KULR shares are up 3.5% in pre-market trading.
