KULR technology Group Expands Bitcoin Holdings
KULR Technology group has substantially increased its Bitcoin (BTC) holdings. The company recently bought 42 more BTC, bringing its total to 716.2 BTC. This move reflects KULR’s growing confidence in the cryptocurrency.
The firm has invested around $69 million in Bitcoin, with an average price of $96,342 per BTC. This strategy began in December 2024 when KULR decided to allocate up to 90% of its surplus cash to BTC. At that time, the company had about $12 million in cash reserves.
CEO Michael Mo explained that this investment is part of a larger plan to adopt new financial technologies. “We see the global acceptance of Bitcoin as just the beginning,” Mo said. He noted that more governments and businesses are embracing blockchain and crypto.
This news comes as new Hampshire becomes the first U.S. state to allow its treasurer to invest public funds in bitcoin. Governor Kelly Ayotte signed a bill permitting up to 10% of state funds to go into digital assets, provided they meet certain criteria.
KULR also reported a 197.5% BTC yield, a measure of the change in its Bitcoin holdings relative to its shares. This indicates a strong performance in its crypto investments.
