KULR Technology Joins Bitcoin for Corporations, Increases Holdings to 920 BTC

KULR Technology Group, Inc. (NYSE American: KULR) announced that it has joined the Bitcoin for Corporations (BFC) initiative, an institutional platform launched by Strategy and Bitcoin Magazine to support corporate Bitcoin adoption. The company joined as an Executive Member, aligning with its strategy of treating Bitcoin as a long-term reserve asset. KULR also disclosed that it increased its Bitcoin treasury by $13 million, bringing its total holdings to 920 BTC. The company said its average acquisition price across all holdings is $98,760 per bitcoin, with total Bitcoin investment now at $91 million. Its latest purchase was made at an average price of $107,861 per bitcoin. According to the announcement, KULR has achieved a 260% year-to-date return on its Bitcoin holdings. The company said it funds these acquisitions through a combination of cash reserves and its At-The-Market (ATM) equity program. Bitcoin for Corporations was launched on July 25, 2024, at the 2024 Bitcoin Conference by Strategy and Bitcoin Magazine. The initiative is designed to help companies integrate Bitcoin into treasury strategies by offering educational resources, practical tools, peer networks, newsletters, case studies, and VIP event access. Strategy co-founder and former CEO Michael Saylor said the initiative is meant to accelerate corporate Bitcoin adoption by combining Strategy’s and Bitcoin Magazine’s expertise, resources, and reach to support companies implementing Bitcoin strategies.