KULR Technology Group, Inc. Expands Bitcoin Holdings to $101 Million
KULR Technology Group, Inc. (NYSE: KULR) recently announced that it has increased its Bitcoin treasury to $101 million by acquiring an additional $10 million in bitcoin at an average price of $108,884 per BTC. This move is in line with the company’s Bitcoin treasury strategy, which was initiated in December 2024, allocating up to 90% of surplus cash reserves to bitcoin as a primary treasury asset.
Bitcoin Treasury Strategy
The CEO of KULR, Michael Mo, emphasized the potential of Bitcoin as an asset class, stating that it has consistently outperformed other major assets in recent years. Despite the volatility in price cycles, hash rates, and energy markets, KULR’s dual-pronged model aims to capture margins from hash price, coin price, or both, while enhancing treasury resiliency.
Bitcoin Yield and Growth
Year to date, KULR has reported a BTC yield of 291.2%, reflecting the growth in bitcoin per share through a combination of surplus cash, a Coinbase credit facility, and an at-the-market (ATM) equity program. The company’s BTC gain now stands at 633 BTC, valued at over $70 million, with a multiple of net asset value (mNAV) of 2.24.
The BTC Yield metric, calculated as the percentage change in the ratio of the company’s bitcoin holdings to its Assumed Fully Diluted Shares Outstanding, helps assess the effectiveness of KULR’s bitcoin acquisition strategy in driving shareholder value.
Bitcoin Mining Expansion
Aside from expanding its Bitcoin holdings, KULR recently deployed 3,570 Bitmain S19 XP 140T mining machines in Asuncion, Paraguay, increasing its total Bitcoin mining capacity to 750 petahash per second (PH/s). The company aims to reach 1.25 exahash per second (EH/s) by late summer.
Future Outlook
KULR views its Bitcoin holdings as long-term investments and intends to continue accumulating bitcoin without setting a specific target for the amount to be held. The company’s strategic approach to Bitcoin acquisition and mining reflects its commitment to maximizing shareholder value and capitalizing on the potential of digital assets.