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KULR Technology Group has made a significant expansion to its Bitcoin treasury by purchasing an additional 100 BTC valued at around $10.4 million. This transaction took place at an average cost of $103,905 per bitcoin as detailed in their recent SEC filing. The company’s total Bitcoin reserves now stand impressively at 610.3 BTC with a market worth close to $60 million.
Announced on December 4 2024 KULR’s commitment to converting up to 90% of its surplus cash into Bitcoin aligns with its strategic financial planning. This strategy mirrors the approaches of other forward-thinking companies like Semler Scientific and Metaplanet in harnessing cryptocurrency to enhance shareholder value.
KULR not only focuses on innovative thermal management solutions for energy storage systems but also actively measures its investment success using BTC Yield. This key indicator has shown a remarkable increase of 167.3% year-to-date demonstrating the company’s adept utilization of its financial resources to fuel its Bitcoin acquisitions.
