KULR Technology Expands Bitcoin Portfolio With $5M Purchase, Reaches 668 BTC

KULR Technology (KULR), a pioneer in advanced energy solutions, has strengthened its Bitcoin (BTC) holdings with a fresh $5 million acquisition, reinforcing its commitment to a Bitcoin-focused treasury strategy.

The latest purchase was executed at an average price of $88,824 per BTC, bringing the company’s total Bitcoin holdings to 668.3 BTC, according to CEO Michael Mo. This aligns with KULR’s financial strategy, introduced in December, which permits up to 90% of its excess cash reserves to be held in 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 valued at just over $58 million.

KULR’s Bitcoin yield has reached 181.1% year to date, a metric the company uses to gauge performance by comparing its BTC accumulation to its fully diluted shares outstanding. The company has relied on a mix of cash reserves and its at-the-market (ATM) equity program to fund its Bitcoin acquisitions.

Following the announcement, KULR shares are trading 3.5% higher in pre-market action.