Key Takeaways
- KULR Technology Group now holds 668.3 BTC after a $5M purchase.
- The company committed up to 90% of surplus cash to bitcoin in December 2024.
- Strategy's total BTC holdings have surpassed 500,000, worth over $44 billion.
KULR Technology Group has added 58.3 bitcoin to its balance sheet in a $5 million purchase, disclosed in an SEC filing on Tuesday.
The buy was executed at an average price of $88,824 per bitcoin, inclusive of fees and expenses.
Total holdings and valuation
With this acquisition, KULR now holds a total of 668.3 BTC, currently valued at around $59 million.
The firm’s average purchase price across all holdings stands at $97,305 per bitcoin, with a total cost basis of approximately $65 million, according to CEO Michael Mo.
Alignment with treasury policy
The move aligns with KULR’s December 4, 2024, bitcoin treasury policy, which committed the company to allocate up to 90% of its surplus cash reserves to bitcoin.
KULR, which provides thermal management solutions for lithium-ion battery systems, is part of a growing group of companies adopting a bitcoin-focused treasury approach, mirroring Strategy (formerly MicroStrategy).
BTC Yield metric
To assess its bitcoin strategy, KULR uses a metric called BTC Yield, which measures the percentage change in bitcoin per diluted share.
Year-to-date, the company reports a BTC Yield of 181.1%, reflecting its use of surplus cash and at-the-market equity sales to finance purchases.
Stock performance
KULR’s stock rose 2.1% on Tuesday morning, though it remains down 55% year-to-date after gaining over 618% in the past year.
Strategy’s holdings
Meanwhile, Strategy announced it now holds 506,137 BTC—worth more than $44 billion—after acquiring an additional 6,911 BTC last week.
That represents roughly 2.4% of bitcoin’s total supply.
