Daniel Walker
KULR Technology Group (KULR), a leader in advanced energy management, has acquired an additional $5 million worth of Bitcoin (BTC) as part of its long-term treasury strategy.
The latest purchase was executed at an average price of $88,824 per BTC, bringing the companyโs total Bitcoin holdings to 668.3 BTC, according to CEO Michael Mo. This move aligns with KULRโs Bitcoin treasury strategy, initially introduced in December, which permits the allocation of up to 90% of surplus cash reserves into BTC.
KULRโs total Bitcoin investment amounts to approximately $65 million, with an average acquisition cost of $97,305 per BTC. At current market levels, with Bitcoin trading near $87,000, the company’s holdings are valued at just over $58 million.
Strong Performance in Bitcoin Yield
CEO Michael Mo highlighted that KULR has achieved an impressive 181.1% Bitcoin yield year-to-date. This figure is derived from a combination of cash reserves and the companyโs at-the-market (ATM) equity program to fund acquisitions.
The company evaluates Bitcoin yield as a key performance indicator (KPI) by measuring the percentage change in the ratio of BTC holdings to KULRโs fully diluted shares outstanding over time. This metric reflects how effectively the company is increasing its Bitcoin exposure without excessive shareholder dilution.
Stock Market Reaction
Following the announcement, KULRโs stock price rose 3.5% in pre-market trading, indicating positive investor sentiment towards the company’s strategic Bitcoin accumulation.
