Today, KULR Technology Group, Inc. (NYSE American: KULR) announced it has secured a $20 million bitcoin-backed credit facility from Coinbase Credit, Inc., a subsidiary of Coinbase Global (NASDAQ: COIN). 

The deal sets up a multi-draw loan facility worth up to $20 million, which KULR can access starting on the effective date. The funding will support KULR’s strategic Bitcoin accumulation goals.

“This marks KULR’s first bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate,” said the CEO of KULR Michael Mo. “It reflects our commitment to diversifying our funding sources as we continue to execute on long-term growth…

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