Golden Finance reported that on June 9th, KULR Technology Group, a listed company on the New York Stock Exchange Inc. (referred to as “KULR”) announced that it has officially joined the “Bitcoin for Corporations” (referred to as “BFC”) program initiated by Strategy™ and Bitcoin Magazine. This plan aims to assist listed companies in integrating Bitcoin into their corporate financial strategies and accelerate the wide application of Bitcoin at the institutional level.
The “Bitcoin for Corporations” program has attracted much attention since its launch, providing participating listed companies with institutional-level tools, a complete framework and an extensive peer network to support enterprises in properly managing and gradually expanding their Bitcoin holdings. KULR joined the program as an executive member, which is highly consistent with its overall strategy of expanding Bitcoin reserves and working with many forward-looking enterprises to treat Bitcoin as a long-term reserve asset.
Michael Mo, the CEO of KULR, said: “Our participation in the ‘Bitcoin for Corporations’ program fully demonstrates our firm belief in the long-term value of Bitcoin as a monetary asset.” As KULR continues to expand its Bitcoin reserves, we are very glad to join hands with other institutions that are leading this transformation in the field of enterprise financial management.
Just as KULR announced its participation in the BFC program, it also disclosed the latest developments of its Bitcoin reserves. The company has recently made another push, spending approximately 13 million US dollars to increase its holdings by 118.6 BTC. This move has led to a significant increase in KULR’s Bitcoin holdings, which have now reached 920. It is understood that KULR has cumulatively invested approximately 91 million US dollars in Bitcoin, with an average purchase price of 98,760 US dollars per coin. If factors such as costs and expenditures are taken into account, the weighted average price of recently increased holdings of Bitcoin is $107,861 per coin.
It is worth mentioning that since the beginning of the year, the yield of the Bitcoin held by KULR has been outstanding, reaching as high as 260%. The company flexibly utilized cash and the At-The-Market (ATM) equity plan, providing sufficient financial support for Bitcoin acquisitions. Since the end of 2024, KULR has listed Bitcoin as a core asset in its financial plan and plans to invest up to 90% of its surplus cash in Bitcoin.
KULR Technology Group Inc. is a global leading enterprise in the field of sustainable energy management and also a company that gives priority to Bitcoin. Its business covers providing cutting-edge energy storage solutions for the space, aerospace and defense sectors. Relying on its strong internal battery design expertise, comprehensive battery testing suite, and battery manufacturing and production capabilities, it can quickly deliver commercialized off-the-shelf and customized next-generation energy storage systems at a significantly lower cost compared to traditional solutions.
With KULR officially joining the “Bitcoin for Corporations” program, the market is full of expectations for its future performance in the integration of Bitcoin investment and corporate financial strategies. Whether KULR can leverage the resources and platform of this plan to further optimize the allocation of Bitcoin assets and enhance the financial performance of enterprises is worthy of continuous attention from investors and the industry. Meanwhile, KULR’s move may also provide valuable references and demonstrations for other listed companies in exploring the integration of Bitcoin into their corporate financial strategies.
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- KULR spent 13 million US dollars to increase his holdings by 118.6 Bitcoins, bringing his total holdings to 920
