KULR Doubles Bitcoin Holdings with Purchase of 213.4 BTC
Leading technological thermal management company KURL doubled its Bitcoin holdings on Monday by purchasing an additional 213.4 BTC, valued at $21 million.
KULR Commits to Bitcoin Treasury Strategy
KULR previously announced plans to increase its Bitcoin acquisitions after making its initial investment of $21 million. The company became part of the public firms with a Bitcoin Treasury on December 26.
Earlier that month, KULR launched its Bitcoin Treasury strategy, focusing on continuous accumulation of Bitcoin. This decision was influenced by recent market volatility, leading KULR to allocate up to 90% of its surplus cash reserves to the Treasury.
KULR’s total Bitcoin purchases have been funded through surplus cash and an At-The-Market (ATM) equity program. Following its latest acquisition, KULR's Bitcoin investments have reached $42 million, increasing its total holdings to 430 BTC. The first investment had an average price of $96,556.53 per coin, while the recent purchase averaged $98,393.58 per Bitcoin.
KULR Gains Positive Momentum, Unveils 93.7% BTC Yield
KULR has made significant strides in its Bitcoin investment strategy, which has positively impacted its stock performance, reaching an all-time high of $4.80 shortly after the initial investment. The firm achieved a BTC yield of 93.7% within two weeks of its first purchase. While this yield does not reflect KULR’s operating performance, it indicates the effectiveness of its Bitcoin acquisition strategy thus far.
MicroStrategy’s successful Bitcoin investment approach serves as a model for public companies diversifying their treasury holdings. Companies like KULR Technology, Marathon Digital Holdings, and Japanese firm Metaplanet are adopting similar strategies, allocating substantial portions of their reserves to Bitcoin. This trend represents a shift in traditional treasury management and underscores Bitcoin's emergence as a mainstream financial asset.
As Bitcoin continues to reach new price records and institutional adoption increases, it remains to be seen whether more companies will join this trend.