KULR Technology Increases Its Bitcoin Holdings to 430.6 BTC, worth $42 million

KULR Technology Group, Inc., a thermal energy management company, increased its Bitcoin holdings with the purchase of 213.4 BTC worth $21 million.

KULR Technology (NYSE:KULR), a thermal energy management company, has increased its Bitcoin (BTC) holdings with a purchase of 213.4 BTC, valued at $21 million, through Coinbase Prime.

This purchase aligns with KULR's corporate strategy to allocate 90% of its cash into Bitcoin as part of its newly adopted treasury strategy. As reported by blockchain analytics firm Arkham Intelligence on Jan. 6, the latest transaction brings KULR's BTC holdings to 430.6 BTC, valued at approximately $42 million, with an average purchase price of $97,537 per BTC.

KULR had earlier made a major BTC purchase in December 2024, where it acquired 217.18 BTC.

NYSE-listed firm @KULRTech just pulled out 213.4 BTC ($21M) from Coinbase Prime 20 minutes ago, which should be the second batch of BTC they are buying.

KULR Technology announced their bitcoin treasury strategy in December, aiming to allocate 90% of the company's cash into BTC. The first batch of buying was on Dec. 24, where they dropped $21M at an average price of $96,556 per BTC.

Established in 2013 and headquartered in San Diego, KULR Technology spans across multiple sectors with its advanced thermal management solutions, primarily in energy storage, electric vehicles, aerospace, and cloud computing. The company is also recognized for its new-age technology, driven by battery safety and thermal energy management, catering to industries demanding high-performance energy solutions.

According to Michael Mo, the CEO of KULR Technology and a renowned advocate for BTC, the company's Bitcoin treasury policy strengthens its financial footing, bolstering operational expansion and long-term capital management through an independent reserving strategy.

He highlighted BTC's unique properties that inherently attract further serious interest and protect against developing current events, such as geopolitics, inflation, and any other macro- and political developments impacting the developed economies.

For a company, BTC's attractiveness as an asset for their treasury is also credited to its limited supply of 21 million coins circulating in the market. Companies like KULR Technology capitalize on this, given its potential for high yields and better liquidity. BTC also acts as a hedge against inflation and economic distress, which aligns with the growing trend among institutions to adopt BTC.