KULR Technology Adds $9M in Bitcoin, Total Holdings Now 800 BTC
While others diversify, KULR doubles down on Bitcoin—allocating the bulk of its cash reserves to BTC.
🧾 The Highlights:
1️⃣ New $9M BTC Purchase
On May 20, KULR Technology Group Inc. added US$9 million worth of Bitcoin at an average price of US$103,234 per BTC.
2️⃣ Total Holdings Reach 800 BTC
With this purchase, KULR’s Bitcoin holdings now total 800 BTC, valued at approximately US$78 million.
3️⃣ 90% of Cash Surplus in BTC
Since December 2024, KULR has allocated up to 90% of its surplus cash reserves toward acquiring Bitcoin—highlighting its long-term conviction in the asset.
4️⃣ BTC Price Update
As of May 21, Bitcoin trades around US$106,794, marking a modest 0.29% gain in the past 24 hours, according to CoinMarketCap.
🔍 Why It Matters:
KULR’s aggressive Bitcoin strategy reflects a growing trend among tech firms treating BTC as a strategic treasury asset. This adds more fuel to institutional adoption narratives as the crypto market matures.
Disclaimer: Not Financial Advice (NFA). Do Your Own Research (DYOR).