Battery technology company KULR has sold its final 764 Bitcoin between Aug. 20 and Sept. 11 at an average price of about $76,633, generating roughly $58.6 million and reducing its holdings to zero as of Sept. 11, according to CryptoSlate. The sale marks the completion of KULR’s exit from its Bitcoin reserve and mining strategy.
The company had already disclosed in August that it sold about 333 BTC after June 30. Around $20 million of that earlier sale was used to repay debt owed to Coinbase. The latest filing did not disclose KULR’s cost basis, realized gain or loss, or the exact use of proceeds from the most recent sale.
It also did not rule out the possibility of buying Bitcoin again in the future. For now, the company said capital will be directed first to its core energy business.
Battery technology company KULR sold its final 764 Bitcoin between Aug. 20 and Sept. 11 at an average price of about $76,633, bringing in roughly $58.6 million, according to CryptoSlate. As of Sept. 11, the company held zero BTC.
The transaction completed KULR’s exit from its Bitcoin reserve and mining strategy.
KULR had previously disclosed in August that it sold about 333 BTC after June 30. About $20 million from that earlier sale was used to repay Coinbase debt.
The filing did not disclose the cost basis, realized profit or loss, or the specific use of proceeds from the latest sale. It also did not rule out future Bitcoin purchases. For now, the funds will be prioritized for KULR’s core energy business.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
