KULR Technology Increases Bitcoin Holdings by 56 Units for $5 Million
KULR Technology reported acquiring 56.3 additional Bitcoin, raising their total holdings significantly as part of their investment strategy.
KULR Technology Increases Bitcoin Holdings by 56 Units for $5 Million
KULR (KULR), a leader in advanced energy management, has purchased an extra $5 million worth of Bitcoin (BTC). The recent acquisition was made at an average price of $88,824 per Bitcoin, raising the company’s total holdings to 668.3 BTC. This acquisition is part of KULR’s innovative Bitcoin treasury strategy, allowing for up to 90% of its surplus cash reserves to be held in Bitcoin.
The total investment for the acquired stack was around $65 million, with an average cost of about $97,305 per Bitcoin. At the current Bitcoin price around $87,000, this stack is valued at upwards of $58 million.
Key Takeaways:
- KULR bought 56.3 Bitcoin at $88,824 each, increasing its total to 668.3 BTC.
- Their Bitcoin holdings are now worth roughly $58.1 million at current prices.
Moreover, KULR has reported a 181.1% yield from Bitcoin this year, utilizing a combination of cash and an equity program to fund these purchases. This yield is a critical performance indicator for the company, reflecting its efficiency in enhancing BTC exposure relative to shareholder dilution.
KULR’s stock traded 3.5% higher in the pre-market session.
