KULR Technology buys $5M in Bitcoin, raising total holdings to 668 BTC

KULR Technology Group has strengthened its Bitcoin holdings with the acquisition of an additional 58.3 BTC for approximately $5 million.

According to an 8-K filing with the Securities and Exchange Commission, the purchase was made at an average price of $88,824 per Bitcoin, inclusive of fees and expenses.

The latest acquisition brings KULR’s total Bitcoin holdings to 668.3 BTC, valued at approximately $59 million at current prices.

The company’s average purchase price across its holdings now stands at $97,305 per Bitcoin, representing a total investment of around $65 million, according to CEO Michael Mo.

This move aligns with KULR’s Bitcoin treasury strategy, announced in December 2024, which commits up to 90% of the company’s surplus cash reserves to Bitcoin.

The firm believes that Bitcoin serves as an effective store of value and a key financial asset in its broader corporate strategy.

KULR joins growing corporate Bitcoin adopters

KULR, a company specializing in thermal management solutions for lithium-ion battery safety and efficiency, is following a growing trend of corporate Bitcoin accumulation.

The firm joins companies such as Semler Scientific, Metaplanet, and Japanese game developer Gumi in adopting a Bitcoin treasury strategy inspired by Strategy, formerly known as MicroStrategy.

To measure the effectiveness of its Bitcoin acquisition approach, KULR uses BTC Yield, a metric that tracks the percentage change in the ratio between the company’s Bitcoin holdings and its assumed diluted shares outstanding.

Year-to-date, KULR has achieved a BTC Yield of 181.1%, leveraging a combination of surplus cash and its at-the-market equity program to fund its purchases.

Despite its Bitcoin accumulation strategy, KULR’s stock has experienced volatility.

Shares rose 2.1% in early Tuesday trading but have declined 55% year-to-date.

However, the company’s stock remains up more than 618% over the past year, reflecting investor interest in its Bitcoin strategy and core business.

Strategy surpasses 500,000 BTC in holdings

Meanwhile, Strategy, the leading corporate Bitcoin holder, announced on Monday that it had exceeded 500,000 BTC in total holdings.

The milestone follows the company’s recent purchase of 6,911 BTC for approximately $584.1 million at an average price of $84,529 per Bitcoin.

Strategy now holds 506,137 BTC, worth over $44 billion.

The firm’s total investment in Bitcoin, led by co-founder and executive chairman Michael Saylor, was made at an average price of $66,608 per Bitcoin, with a total cost of around $33.7 billion, including fees and expenses.

With this latest acquisition, Strategy holds roughly 2.4% of Bitcoin’s finite 21 million supply, further solidifying its position as the largest corporate Bitcoin holder.

The company continues to use proceeds from stock sales, including its class A common stock and perpetual strike preferred stock, to fund its ongoing Bitcoin purchases.