KULR expands Bitcoin holdings with 118 BTC, joins ‘Bitcoin for Companies’ initiative
KULR Know-how Group deepened its dedication to Bitcoin by becoming a member of the “Bitcoin for Companies” initiative and including 118 BTC to its rising treasury.
The Houston-based vitality storage firm now holds a complete of 920 BTC, acquired for roughly $91 million at a mean buy value of $98,760 per coin, in line with a be aware shared with crypto.information
The BFC initiative, led by Technique and Bitcoin Journal, goals to assist public corporations combine Bitcoin (BTC) into their company treasuries by providing institutional instruments and peer help.
As an Government Member, KULR aligns itself with different corporations utilizing Bitcoin as a long-term reserve asset.
Bitcoin as a retailer of long-term worth
CEO Michael Mo reaffirmed the corporate’s perception in Bitcoin’s long-term worth, stating that KULR’s participation in BFC displays a strategic strategy to company treasury administration. Since designating Bitcoin as a core treasury asset in late 2024, KULR has dedicated to allocating as much as 90% of its surplus money towards Bitcoin acquisitions.
On this newest transfer, KULR spent $13 million on its most up-to-date Bitcoin buy, paying a mean of $107,861 per BTC.
Yr-to-date, the corporate has realized a BTC yield of 260%, using a mix of money reserves and its At-The-Market fairness program to fund acquisitions.
This strategic accumulation locations KULR amongst a rising checklist of corporations turning to Bitcoin as an inflation hedge and long-term asset. The corporate’s inventory presently trades at $1.20 per share.
KULR makes a speciality of vitality storage options for aerospace, protection, and house industries.