KULR Technology Joins the Bitcoin Bandwagon with $10M Purchase

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KULR Technology Group, Inc., a prominent player in advanced energy management platforms, has made another Bitcoin purchase to bolster its treasury. On February 11, the company revealed that it recently purchased an additional $10 million worth of Bitcoin at a weighted average price of $103,905 per unit, inclusive of all associated fees and expenses.

As per the official press release, KULR Technology’s latest BTC shopping brings its cumulative holding to 610.3 BTC, worth around $60 million.

KULR has acquired 100 BTC for ~ 10 million at ~ $103,905 per #bitcoin and has achieved BTC Yield of 167% YTD. As of 2/10/25, we hodl 610 $BTC acquired for ~ $60 million at ~ $98,312 per bitcoin. $KULR

— Michael Mo (@michaelmokulr) February 11, 2025

KULR’s Strategic Shift

The decision to expand its Bitcoin holdings underscores KULR’s growing commitment to the crypto space. On December 4, 2024, the company’s Board of Directors formally recognized Bitcoin as a primary treasury asset. This bold move included a plan to allocate up to 90% of surplus cash toward acquiring the leading cryptocurrency.

In January, Michael Mo, CEO and co-founder of KULR, noted the growing Bitcoin adoption. “Bitcoin is no longer just a niche investment–institutional adoption is booming,” he explained. 

KULR’s Bitcoin treasury strategy has yielded impressive results. The company reported a year-to-date BTC yield of 167.3%, a key performance indicator measuring the percentage change in its Bitcoin holdings relative to its fully diluted shares outstanding. The acquisitions were financed through surplus cash and KULR’s at-the-market (ATM) equity program, demonstrating the company’s ability to efficiently deploy capital into its digital asset investments.

Corporate Bitcoin Adoption on the Rise

KULR’s investment reflects the broader trend of corporate interest in Bitcoin, as companies seek to diversify their treasury portfolios and hedge against traditional market fluctuations. Several big companies have started accumulating BTC after spot Bitcoin exchange-traded funds (ETFs) gained regulatory approval from the US Securities and Exchange Commission (SEC) in January 2024.

Data from HODL15Capital reveals that 20 companies increased their Bitcoin treasury holdings just this past week. As of February 10, the top 70 companies collectively hold 635,657 BTC, with MicroStrategy and Marathon Digital leading the pack. As more corporations join the movement, the role of digital assets in corporate finance appears to expand further.

The HODL Top 70 List 👇 2/10/2025

✅ 20 💥 companies increased their Bitcoin treasury this week✴️ $TSLA up to #4 on the list ✅ HODL balance increased 10,000+ BTC since last week✅ The Top 70 companies HODL 635,657 Bitcoin

— HODL15Capital 🇺🇸 (@HODL15Capital) February 10, 2025

KULR Technology Joins the Bitcoin Bandwagon with $10M Purchase

In a related development, Tokyo-listed mobile game studio Gumi Inc. announced plans to acquire Bitcoin worth 1 billion Japanese yen (around $6.58 million). The company’s planned purchase period spans from February to May of this year.

Bitcoin itself continues to hold steady, currently trading around $97,250 without significant price fluctuations over the past 24 hours. The broader cryptocurrency market has seen modest growth, with a 0.20% increase in market capitalization, now standing at $3.19 trillion.

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2025-02-11 19:54