KULR Technology Group Inc. (NYSE American: KULR), a leader in advanced energy management platforms, has announced the completion of its first Bitcoin purchase as part of a recently unveiled treasury strategy. The company acquired 217.18 Bitcoin (BTC) for approximately $21 million, at an average price of $96,556.53 per BTC.
This purchase marks the initial step in KULR’s plan to allocate up to 90% of its surplus cash to Bitcoin, which was first disclosed on December 4, 2024. The company has chosen Coinbase’s (NASDAQ: COIN) Prime platform to provide custody, USDC, and self-custodial wallet services for its BTC holdings.
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The investment reflects KULR’s confidence in Bitcoin as a long-term asset and its commitment to integrating innovative financial strategies into its operations.
The company plans to make additional Bitcoin purchases as part of its ongoing treasury management approach.
KULR Technology Group specializes in advanced energy storage solutions for industries such as space, aerospace, and defense.
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By leveraging in-house battery design expertise and a comprehensive suite of testing and production capabilities, KULR provides both off-the-shelf and custom energy storage systems. These solutions are delivered rapidly and cost-effectively, positioning KULR as a leading innovator in the energy management space.
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