KULR Technology Group Completes First Bitcoin Purchase as Part of Unveiled Treasury Strategy

KULR Technology Group Inc. (NYSE American: KULR), a leader in advanced energy management platforms, has announced the completion of its first Bitcoin

KULR Technology Group (NYSE American: KULR), a company engaged in the development of advanced energy management platforms, has announced the completion of its first Bitcoin purchase. This acquisition forms part of a recently unveiled treasury strategy by the company.

The company purchased 217.18 Bitcoin (BTC) for an approximate total of $21 million, with an average price per BTC of $96,556.53. This 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.

KULR has selected Coinbase's (NASDAQ: COIN) Prime platform to provide custody, USDC, and self-custodial wallet services for its BTC holdings.

This investment highlights KULR's confidence in Bitcoin as a long-term asset and its commitment to integrating innovative financial strategies into its operations. As part of its ongoing treasury management approach, the company anticipates making additional Bitcoin purchases.

Specializing in advanced energy storage solutions for industries such as space, aerospace, and defense, KULR Technology Group leverages in-house battery design expertise. The company boasts a comprehensive suite of testing and production capabilities, enabling the rapid and cost-effective delivery of both off-the-shelf and custom energy storage systems. Through these endeavors, KULR has established itself as a leading innovator in the energy management space.