KULR Technology Invests $21M, Totaling 430 BTC in Treasury

Thermal energy management company KULR Technology Group, Inc. increased its Bitcoin holdings by purchasing 213.4 BTC worth $21 million.

The purchase, made through Coinbase Prime, fits into corporate strategic efforts to move 90% of cash into Bitcoin (BTC) under the newly adopted treasury strategy. As reported by blockchain analysis firm Arkham Intelligence on January 6, the latest transaction increased KULR’s BTC holdings to 430.6 BTC, valued at approximately $42 million and with an average purchase price of $97,537 per BTC.

This marks the company’s second major BTC purchase in a month. On December 26, 2024, KULR Technology purchased 217.18 BTC for $21 million, an average price of $96,556 per BTC.

纽约证券交易所上市公司 @KULRTech 20 years ago Coinbase Prime compared the price of BTC to 213.4 BTC ($21M).

KULR Technology, 2024, 12 May, 90% 现金买成BTC.
12 February 24 November 2100 USD to 96,556 USD… https://t.co/kwRM5sk0ZQ pic.twitter.com/j45BY4u3or

— 余烬 (@EmberCN) January 6, 2025
AX post about KULR Technology’s recent BTC purchase.

Founded in 2013 and headquartered in San Diego, KULR Technology has developed advanced thermal management solutions across a multi-sector umbrella, primarily those related to energy storage, electric vehicles, aviation and cloud computing. The company is also known for its new technologies based on battery safety and thermal energy management, and works with industries that need high-performance energy solutions.

According to Michael Mo, CEO of KULR Technology and a strong advocate of BTC, the company’s Bitcoin treasury policy strengthens its financial position by supporting operational expansion and long-term capital management through an independent reserve strategy.

He noted that BTC’s distinct features warrant further serious attention and will provide protection against evolving current events such as geopolitics, inflation, and other macro and political events affecting developed economies.

For a company, the attractiveness of BTC as an asset for its treasury is secured by the limited supply of 21 million coins available on the market. Companies like KULR Technology are benefiting from this given the potential for higher returns and better liquidity. BTC also serves as a hedge against inflation and economic disruption. This also corresponds to the growing trend among institutions to adopt BTC.