KULR Acquires Additional Bitcoin

KULR (KULR), a leader in advanced energy management, has acquired an additional $5 million worth of bitcoin (BTC).

The latest purchase was made at an average price of $88,824 per bitcoin, increasing the company’s total holdings to 668.3 BTC, as announced by CEO Michael Mo. This move aligns with KULR’s bitcoin treasury strategy, first announced in December, allowing up to 90% of its surplus cash reserves to be held in bitcoin.

The company’s stack was purchased for about $65 million, or an average price of $97,305 per token. Currently, it’s valued just above $58 million at bitcoin’s price in the $87,000 range.

Year to date, KULR has achieved a bitcoin yield of 181.1%, according to Mo, using a mix of cash and its at-the-market (ATM) equity program to fund acquisitions. This bitcoin yield is a key performance indicator (KPI) for the company, calculated by assessing the percentage change over periods in the ratio of bitcoin holdings to KULR’s assumed fully diluted shares outstanding. This metric reflects the company’s efficiency in increasing BTC exposure relative to shareholder dilution.

KULR stock is trading 3.5% higher in the pre-market session.

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