KULR Technology Group $KULR has made a bold move into cryptocurrency with the acquisition of 217.18 Bitcoin for approximately $21 million. The purchase, completed at an average price of $96,556.53 per Bitcoin, aligns with the company’s recently announced Bitcoin Treasury strategy.
On December 4th, KULR unveiled plans to allocate up to 90% of its surplus cash to Bitcoin, signaling its commitment to the digital asset. This initial purchase marks the start of what the company describes as ongoing investments in cryptocurrency.
To manage its Bitcoin holdings, KULR has partnered with Coinbase Prime (NASDAQ: COIN) for custody, USDC, and self-custodial wallet services.
This strategic shift reflects KULR’s innovative approach to capital management while reinforcing its role as a forward-thinking leader in energy technology.
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