In a latest development, KULR, a leading energy-management systems provider, has made an exciting move by investing $8 million in Bitcoin, boosting its holdings to 510 tokens. With Bitcoin priced at an average of $101,695, the company’s total investment now stands at a remarkable $50 million!
This strategic move aligns with KULR’s Bitcoin Treasury Strategy announced on December 4, 2024, wherein the Company committed up to 90% of its surplus cash reserves to be held in bitcoin. The purchase comes after the Houston-based company announced on December 4 that it would invest some of its excess cash in Bitcoin, as more public companies adopt Bitcoin as part of their treasury.
Notably, KULR has achieved a 127% BTC yield year-to-date by using surplus cash and its ATM equity program to fund purchases. Since announcing its investment strategy, the company’s NYSE-listed shares have surged 90%, while Bitcoin has risen by 7%.
The latest buy comes as the world’s first institutional bitcoin (BTC) holder, MicroStrategy, recently acquired 11,000 BTC, valued at $1.1 billion, at an average price of $101,191 per bitcoin. Since November 2024, the company has been making weekly BTC purchases. Saylor has expressed his intention to keep buying bitcoin, no matter the price, and emphasized in an interview that he would continue purchasing even if BTC reached a million dollars.
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