Key Takeaways
- KULR bought 100 more Bitcoin for $10.4 million at $103,905 per BTC.
- Its total Bitcoin holdings now stand at 610.3 BTC, worth nearly $60M.
- KULR follows a Bitcoin treasury strategy, allocating up to 90% of surplus cash.
According to an 8-K filing with the SEC on Tuesday, KULR acquired the Bitcoin at an average price of $103,905 per BTC, including fees and expenses.
At current market prices, its holdings are valued at nearly $60 million, with an overall average acquisition cost of $98,312 per Bitcoin, KULR CEO Michael Mo confirmed.
Bitcoin strategy
The company’s Bitcoin acquisition strategy was announced on Dec. 4, 2024, committing up to 90% of its surplus cash reserves to Bitcoin.
KULR, a firm specializing in thermal management solutions for energy storage systems, is following a strategy similar to that of Strategy (formerly MicroStrategy), Semler Scientific, Metaplanet, and Gumi in using Bitcoin as a treasury asset.
Performance metrics
To evaluate its Bitcoin investment approach, KULR tracks a metric called BTC Yield, which measures the percentage change in the ratio of its Bitcoin holdings to diluted shares outstanding.
Year-to-date, KULR has achieved a BTC Yield of 167.3%, leveraging both surplus cash and its at-the-market equity program to fund purchases.
Stock performance
KULR’s stock surged over 28% on Monday and is currently up 0.4% in pre-market trading, according to TradingView.
