KULR Technology expanded its bitcoin holdings to 610.3 BTC with a $10 million investment, aligning with its Bitcoin Treasury Strategy.
KULR Technology Group Inc. (NYSE American: KULR) said on February 11 that it had added 610.3 BTC to its bitcoin shares after investing $10 million. This brought the total amount of bitcoin it had bought to about $60 million.
The announcement states:
The additional purchases were made at a weighted average price of $103,905 per bitcoin, inclusive of fees and expenses. The company now holds 610.3 BTC.
The move fits with KULR’s Bitcoin Treasury Strategy, which was launched on December 4, 2024 and commits up to 90% of its extra cash to bitcoin. The company reported a BTC yield of 167.3% for the first half of the year.
This is the percentage change in bitcoin assets compared to the number of fully diluted shares that are outstanding. Its At-The-Market (ATM) equity scheme and extra cash flow are used to pay for acquisitions.
KULR is the latest company adding to their bitcoin holdings to improve business treasuries. Microstrategy, which has changed its name to Strategy, is the market winner and owns 478,740 BTC worth $31.1 billion.
Metaplanet, a company from Japan, has 1,762 BTC and wants to reach 21,000 BTC by 2026. At the same time, several U.S. states are looking into passing laws to set up “strategic bitcoin reserves” as a way to protect against inflation and unstable economies.
