KULR Seeks to Raise Up to $300 Million for Bitcoin Investments
Energy-management firm KULR (KULR) plans to raise up to $300 million through an at-the-market (ATM) offering facilitated by Cantor Fitzgerald. The funds will finance general corporate purposes, including working capital and bitcoin acquisitions.
- KULR began using bitcoin as its primary treasury reserve asset in late 2024, currently holding 800 BTC.
- Other companies have similarly utilized ATM programs for bitcoin purchases, including Strategy, The Blockchain Group, MARA Holdings, and Semler Scientific.
- KULR has leased 5,500 S-19 bitcoin miners for over $4 million, earning nearly 10 BTC from these operations.
- The company purchased 449.45 BTC in the three months ending March 31 and an additional 244.36 BTC since then.
- KULR's shares increased by 3.4% today, reaching $1.22.