The post KULR Invests $10M More in Bitcoin, Achieves 167% Yield appeared first on Coinpedia Fintech News
KULR Technology Group, Inc. a leader in advanced energy management platforms, in a recent announcement revealed that it has increased its bitcoin purchases for its Bitcoin Treasury by an additional $10 million to reach a total of approximately $60 million in bitcoin acquisitions.
The additional purchases were made at a weighted average price of $103,905 per bitcoin, inclusive of fees and expenses. The Company now holds 610.3 BTC.
KULR’s Bitcoin Treasury Strategy
This move aligns with KULR’s Bitcoin Treasury Strategy, announced on December 4, 2024, where the company pledged to hold up to 90% of its surplus cash reserves in bitcoin.
Besides, Year to date, KULR has achieved a BTC Yield of 167.3%, leveraging a combination of surplus cash and its At-The-Market (ATM) equity program to fund purchases. Notably, BTC Yield measures the change in KULR’s Bitcoin holdings compared to its total shares outstanding. KULR’s shares dropped nearly 2% in premarket trading, following a 28% increase on Monday.