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KULR Technology Group (NYSE:KULR) has made a significant move in the cryptocurrency market by purchasing an additional $21 million in bitcoins. This latest acquisition brings their total bitcoin investment to $42 million. The company secured these coins at a weighted average price of $98,393.58 each, including all fees and expenses.
This decision is part of KULR’s ambitious Bitcoin Treasury Strategy, unveiled on December 4, 2024. The strategy commits up to 90% of the company’s surplus cash reserves to bitcoin investments. KULR’s approach underscores its confidence in bitcoin as a viable and lucrative component of its financial reserves.
Since the commencement of its bitcoin investments in December 2024, KULR has seen a staggering 93.7% BTC Yield. The company funded these purchases through a mix of surplus cash and its At-The-Market equity program, reflecting a strategic leverage of its available resources for maximum financial gain.
