KULR Technology Group Bolsters bitcoin Holdings and Joins Corporate Initiative
KULR Technology Group has strengthened itâs Bitcoin position by joining the âBitcoin for Corporationsâ (BFC) initiative. The company recently added 118 BTC to its treasury, bringing its total holdings to 920 BTC. This acquisition cost approximately $13 million, with an average price of $107,861 per BTC.
As an Executive member of BFC,KULR aligns with othre firms using Bitcoin as a long-term asset. The BFC initiative, led by Strategy and Bitcoin Magazine, helps companies integrate Bitcoin into their treasuries. It offers tools and support for corporate Bitcoin adoption.
KULRâs CEO, Michael Mo, believes in Bitcoinâs long-term value. As late 2024, the company has allocated up to 90% of its surplus cash to Bitcoin. This strategic move reflects a commitment to corporate treasury management. Year-to-date, KULR has achieved a 260% BTC yield.
The companyâs stock trades at $1.20 per share. KULR specializes in energy storage solutions for aerospace,defense,and space industries. By joining BFC, KULR aims to hedge against inflation and secure long-term value.
