KULR Technology plans to allocate 90% of surplus cash to Bitcoin

KULR Technology Group announced plans to allocate up to 90% of its excess cash, including $12 million available, to Bitcoin.

This decision puts the company in line with the growing trend of businesses using Bitcoin as a treasury asset.

The company’s leadership explained that this move increases financial resilience. KULR’s Bitcoin purchases will be affected by market conditions and the company’s cash flow needs. This flexibility allows the company to adjust its approach as conditions change.

“With over $12 million in cash on its balance sheet today and future cash surplus, KULR is committed to allocating 90% of excess cash to BTC,” the announcement said.

CEO Michael Mo emphasized that Bitcoin’s increasing adoption worldwide was a key factor in this decision. He noted that the asset could strengthen KULR’s balance sheet while supporting its operational growth.

“We believe that increasing global adoption of Bitcoin is still in its early stages. “Corporations, financial institutions, governments and capital markets are recognizing blockchain technology, and BTC in particular, and are incorporating it into their overall economic toolkit.”

Michael Mo

KULR is a company specializing in energy storage and management solutions. According to Google, the current stock price is $1.20 per share.

Bitcoin as a strategic asset

This strategy comes as interest in Bitcoin increases across sectors. Senator Cynthia Lummis has suggested creating a national Bitcoin reserve, and President-elect Donald Trump recently suggested exploring a federal Bitcoin stockpile. These developments underscore Bitcoin’s growing recognition as a strategic asset.

For KULR, adopting Bitcoin represents a step towards integrating emerging financial technologies into its business model. The company believes this move positions it for growth as it navigates the evolving economic environment.