KULR Technology Group Expands Bitcoin Treasury to 610 BTC

TLDR:

• KULR Technology Group has expanded its Bitcoin holdings to 610.3 BTC, worth approximately $60 million, through three separate purchases since December 2024
• The company has committed to allocating up to 90% of its surplus cash reserves to Bitcoin, following a strategy similar to Strategy (formerly MicroStrategy)
• Their most recent purchase was $10 million worth of Bitcoin at an average price of $103,095 per coin
• KULR reported a Bitcoin Yield (BTC holdings relative to shares) of 167.3% year-to-date
• The San Diego-based energy storage company trades on NYSE and has seen recent stock price fluctuations, with shares down 4% at $2.26

KULR Technology Group, a publicly traded energy storage solutions provider, has increased its Bitcoin holdings to 610.3 BTC, valued at approximately $60 million, following its third major cryptocurrency purchase since December 2024.

The San Diego-based company, which trades on the New York Stock Exchange, announced on Tuesday a new $10 million Bitcoin acquisition. This latest purchase was made at an average price of $103,095 per Bitcoin, adding to the company’s growing cryptocurrency treasury.

KULR’s journey into Bitcoin began in December 2024 when it made its first purchase of 217.18 BTC for approximately $21 million. The company followed this initial investment with a second purchase of similar value in January 2025, demonstrating a steady commitment to its Bitcoin acquisition strategy.

The energy management firm, which provides solutions for aerospace and defense companies, has stated its intention to allocate up to 90% of its surplus cash reserves to Bitcoin. This strategy aligns with other public companies that have chosen to invest their treasury reserves in the cryptocurrency.

KULR’s Bitcoin strategy has produced measurable results, with the company reporting a Bitcoin Yield of 167.3% year-to-date. This metric, which serves as a key performance indicator, measures the percentage change in KULR’s Bitcoin holdings relative to its fully diluted shares outstanding.

The company has utilized both surplus cash and its at-the-market (ATM) equity program to fund these Bitcoin acquisitions, showing flexibility in its approach to building its cryptocurrency position.

KULR has acquired 100 BTC for ~ 10 million at ~ $103,905 per #bitcoin and has achieved BTC Yield of 167% YTD. As of 2/10/25, we hodl 610 $BTC acquired for ~ $60 million at ~ $98,312 per bitcoin. $KULRhttps://t.co/aNI2LWFLwT pic.twitter.com/jc9teZTxE3

— Michael Mo (@michaelmokulr) February 11, 2025

The market has responded to KULR’s Bitcoin strategy with mixed reactions. While the company’s stock saw a 28% increase on Monday, it experienced a decline of more than 4% following the announcement of its latest Bitcoin purchase, trading at $2.26 per share.

Strategy’s Approach

KULR’s approach mirrors that of Strategy (formerly known as MicroStrategy), which began purchasing Bitcoin in 2020 as an alternative treasury reserve asset. Strategy has accumulated 478,740 BTC, worth $46.4 billion, making it a leader among public companies holding Bitcoin.

The trend of public companies adding Bitcoin to their treasury reserves continues to grow. Companies such as Thumzup, a social media marketing firm, Cosmos Health, a healthcare company, and video streaming platform Rumble have recently adopted similar strategies.

Strategy has expanded its role beyond Bitcoin acquisition to include Bitcoin securitization, offering investors regulated exposure to cryptocurrency through its stock. Michael Saylor, Strategy’s co-founder and chairman, has promoted the idea that Bitcoin acquisition can enhance a company’s longevity.

KULR’s latest $10 million Bitcoin purchase represents the company’s ongoing commitment to this treasury strategy, bringing its total holdings to 610.3 BTC. At current market prices of approximately $97,000 per Bitcoin, these holdings represent a value of over $59 million.

The company has structured its Bitcoin strategy to utilize up to 90% of its surplus cash reserves, indicating a strong belief in the long-term value proposition of the cryptocurrency as a treasury reserve asset.

This latest purchase comes at a time when Bitcoin’s price has shown strong performance, trading around $97,000 per coin. The cryptocurrency’s price movements have direct implications for the dollar value of KULR’s holdings.

KULR’s stock performance has shown volatility in response to these Bitcoin purchases, with recent trading sessions showing both gains and losses.