It was a jolly good show, old chap! KULR Technology Group, a spiffing advanced energy management company based in the United States, has made its first Bitcoin acquisition of 2025, purchasing approximately 78.66 BTC for a whoppin’ $8 million at an average price of $101,695 per coin. 
According to an official announcement on Tuesday, the purchase aligns with the company’s Bitcoin Treasury Strategy announced on December 4, 2024, which committed up to 90% of its surplus cash reserves to Bitcoin. One wonders, dear reader, if this is a case of throwing the baby out with the bathwater?
KULR Now Holds 510 BTC on Its Balance Sheet
That same month, KULR kicked off the strategy by acquiring 217.18 BTC for approximately $21 million at an average price of $96,556.53 per coin. The company named Coinbase, an American-based exchange, as the official custody partner to hold the Bitcoins. Ah, the trusty old Coinbase, always ready to lend a helping hand… or should we say, a helping wallet?
Till date, KULR said it has spent a total of $50 million to buy around 510 Bitcoin. The firm announced that it had generated a 127% Bitcoin yield since its addition of the leading crypto asset to its treasuries. Now, that’s what we call a jolly good return on investment, if I do say so myself!
The company explained that it employed “BTC Yield” as a key performance indicator to assess the effectiveness of its Bitcoin acquisition strategy. The yield is calculated as the percentage change period-to-period in the ratio of the company’s Bitcoin holdings to its assumed fully diluted shares outstanding. Ah, the thrill of it all – the thrill of the chase, the thrill of the unknown!
The metric provides insights into how the company’s Bitcoin holdings are growing relative to its share structure, offering shareholders a transparent view of the company’s strategic asset allocation. But, of course, one must always keep a level head and not get too carried away with the excitement of it all.
However, it is important to note that BTC Yield is not a measure of operating performance, financial return, or liquidity, and should be considered alongside traditional financial metrics. Ah, the wise words of caution – always a welcome respite from the madness!
Other Companies Investing in Bitcoin
Meanwhile, KULR’s strategic move mirrors a broader trend of corporations adding Bitcoin to their balance sheets. MicroStrategy, for instance, has been a prominent player in this space. Ah, MicroStrategy – the company that’s always been a bit of a wild card, but in a good way, of course!
Earlier today, the company announced that it had acquired additional bitcoin worth approximately $1.1 billion. The business intelligence firm topped up its bag with 11,000 BTC which was purchased using the proceeds of its share sale between January 13 and 20. Ah, the thrill of the deal – the thrill of the acquisition!
The firm has maintained its position as the largest corporate holder of bitcoin, totaling around 461,000 with an estimated valuation of $47 billion. Now, that’s what we call a jolly good stash, if I do say so myself!
Meanwhile, this is not the company’s first purchase of the year. According to a Form 8-K filed with the US Securities and Exchange Commission (SEC) on January 6, 2025, MicroStrategy spent $101 million in late December to buy 1,070 BTC. At the time, its bitcoin stash stood at 447,470 BTC. Ah, the never-ending saga of MicroStrategy’s Bitcoin adventures!
This week has also seen the likes of Rumble Inc., a video-sharing platform, announce its entry into the crypto market with a significant Bitcoin purchase. While the exact figures were not disclosed, the move signifies Rumble’s confidence in Bitcoin as a strategic asset. Ah, the brave new world of cryptocurrency – where anything is possible!
Metaplanet, a Japanese-based investment firm, also made headlines in 2024 by adopting Bitcoin as a strategic reserve. The company executed a series of purchases throughout the year, underscoring its commitment to integrating digital assets into its investment portfolio. Ah, the wise words of Metaplanet – always a welcome respite from the madness!
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2025-01-21 22:19