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KULR Technology Buys Another 56 Bitcoin for $5M, Takes Holdings to 668 BTC
The company's average acquisition cost is now roughly $97,300 per bitcoin.
What to know:
- KULR bough56.3 additional BTC at $88,824 each, bringing total holdings to 668.3 tokens.
- The company's stack was acquired for about $65 million and is now worth roughly $58.1 million at bitcoin's current price in the $87,000 area.
KULR (KULR) a leader in advanced energy management has acquired an additional $5 million worth of bitcoin (BTC).
The latest purchase was made at an average price of $88,824 per bitcoin, increasing the company’s total holdings to 668.3 BTC, per the announcement from CEO Michael Mo. This move is in line with KULR’s bitcoin treasury strategy, first announced in December, which allows for up to 90% of its surplus cash reserves to be held in bitcoin.
The company stack was purchased for about $65 million, or an average price of $97,305 per token. It's worth just above $58 million at bitcoin's current price in the $87,000 area.
STORY CONTINUES BELOW
Year to date, KULR has achieved a bitcoin yield of 181.1%, according to Mo, utilizing a mix of cash and its at-the-market (ATM) equity program to fund acquisitions. The bitcoin yield is a key performance indicator (KPI) for the company, calculated by assessing the percentage change period over period in the ratio of bitcoin holdings to KULR’s assumed fully diluted shares outstanding. This metric reflects the company's efficiency in increasing BTC exposure relative to shareholder dilution.
KULR stock is trading 3.5% higher in the pre-market session.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
AI Boost
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk's AI Policy.
