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KULR Technology Group (NYSE: KULR) has expanded its Bitcoin holdings to $101 million after acquiring an additional $10 million in BTC at an average price of $108,884 per coin. The company now holds a total of 1,021 BTC, following its treasury strategy launched in December 2024, which commits up to 90% of surplus cash reserves to Bitcoin.
CEO Michael Mo emphasized Bitcoin’s long-term value, stating it has outperformed major asset classes in 11 of the past 14 years. KULR reports a year-to-date BTC yield of 291.2%, with 633 BTC gained, now valued at over $70 million. The company’s net asset value multiple (mNAV) stands at 2.24, reflecting strong treasury growth through surplus cash, a Coinbase credit facility, and its ATM equity program.
The announcement follows KULR’s deployment of 3,570 Bitmain S19 XP 140T miners in Paraguay, raising its mining capacity to 750 PH/s. With a target of 1.25 EH/s by late summer, KULR plans to continue accumulating Bitcoin without a set limit.
