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KULR Technology Group Purchases 217 Bitcoin for $21 Million at $96,556 per BTC as Part of Treasury Strategy
Dec 26, 2024, 01:57 PM
KULR Technology Group, a publicly traded company listed on NYSE American under the ticker $KULR, has initiated a Bitcoin treasury strategy by acquiring 217.18 Bitcoin for $21 million. The purchase was made at an average price of approximately $96,556 per Bitcoin. This move aligns with KULR's plan to allocate up to 90% of its surplus cash to Bitcoin, a decision announced earlier in December. The company utilized Coinbase's Prime platform for custody of the acquired Bitcoin. This strategic investment aims to enhance KULR's financial positioning amid market volatility.
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