KULR Technology Joins Bitcoin for Corporations Initiative
KULR Technology Group (NYSE American: KULR), a Bitcoin-first company and global leader in sustainable energy management, has announced its participation in the Bitcoin for Corporations (BFC) initiative—an institutional platform jointly launched by Strategy (formerly MicroStrategy) and Bitcoin Magazine. As an Executive Member of BFC, KULR aligns with a network of publicly traded companies that integrate Bitcoin into their corporate treasury strategies and balance sheets. The initiative provides participants with institutional-grade tools, frameworks, and peer networks to responsibly manage and expand Bitcoin holdings.
“Our commitment to Bitcoin for Corporations reflects a strong conviction in Bitcoin’s long-term value as a monetary asset,” said Michael Mo, CEO of KULR. “As KULR continues to scale its Bitcoin treasury, we welcome the chance to align with other institutions pioneering this shift in corporate treasury management.”
Bitcoin Holdings Increased to 920 BTC, Total Investment Exceeds $91 Million
In addition to joining BFC, KULR has boosted its Bitcoin treasury by $13 million, raising total holdings to 920 BTC. The average acquisition price across all holdings is $98,760 per Bitcoin, while the latest purchase was executed at an average price of $107,861 per BTC. The company’s total Bitcoin investment now stands at $91 million. Year-to-date, KULR has delivered a remarkable 260% return on its Bitcoin holdings. The acquisitions are funded through a strategic mix of cash reserves and its At-The-Market (ATM) equity program.
Overview of Bitcoin for Corporations Initiative and Industry Impact
On July 25, 2024, during the 2024 Bitcoin Conference, Strategy and Bitcoin Magazine announced the launch of Bitcoin for Corporations, a program designed to help companies integrate Bitcoin into their treasury strategies. The initiative provides corporate leaders with educational resources, practical tools, and access to a network of peers and experts. It features a co-branded web platform offering specialized content, newsletters, success stories, and VIP access to events.
“The ‘Bitcoin for Corporations’ initiative is a significant step towards accelerating corporate Bitcoin adoption,” added Michael Saylor, co-founder and former CEO of Strategy. “By combining our expertise, resources and reach, along with Bitcoin Magazine, we aim to create a robust platform that educates and supports corporations in implementing Bitcoin strategies.”