The Kulr Technology Group has strengthened Bitcoin with an additional 58.3 BTC for about $ 5 million.
According to the 8-K report with the Securities and Stock Exchange Committee, the purchase was performed at an average price of $ 88,824 per bitcoin, including fees and expenses.
The latest acquisition of the total acquisition of Bitcoin from Kulr to 668.3 BTC, at a value of approximately $ 59 million at current prices.
The average purchase price of the company is now 97,305 dollars per bitcoin, which represents a total investment of about $ 65 million, according to CEO Michael Mo.
This step is in line with the Bitcoin Kulr Treasury Strategy, which was announced in December 2024, which connects up to 90 % of the company’s cash reserves to Bitcoin.
The company believes that Bitcoin serves an effective value of value and financial assets in the wider companies strategy.
Kulr joins Bitcoin Corporaate
Kulr, a company specialized in thermal management solutions for the safety of the lithium and ion battery, follows a growing trend for bitcoin accumulation of companies.
The company joins companies such as Semler Scientific, Metaplanet and Japanese Games developer in adopting a strategy of the Bitcoin Treasury inspired by the strategy, previously known as Microstrategy.
To measure the effectiveness of the Bitcoin acquisition approach, Kulr use BTC, a scale that tracks the percentage of change in the ratio between the company’s Bitcoin’s holdings and its supposed diluted shares.
One year to date, Kulr achieved BTC’s return by 181.1 %, and benefit from a set of cash surplus and market stock program to finance its purchases.
Despite the Bitcoin accumulation strategy, Kulr shares have seen fluctuations.
The shares increased by 2.1 % in trading early on Tuesday, but decreased by 55 % on an annual basis.
However, the shares of the company remains more than 618 % during the past year, which reflects the investor’s interest in Bitcoin and basic business.
The strategy exceeds 500,000 BTC in holdings
Meanwhile, the strategy, Bitcoin, with leading companies, announced on Monday that it exceeded 500,000 BTC in all holdings.
This teacher follows the company’s last purchase of 6,911 BTC for about 584.1 million dollars at an average price of 84,529 dollars per bitcoin.
The strategy now has 506,137 BTC, at a value of more than $ 44 billion.
The total investment of the company in Bitcoin, led by co -founder and CEO Michael Sailor, was invested at an average price of $ 66,608 per Bitcoin, at a total cost of about $ 33.7 billion, including fees and expenses.
With this last acquisition, the strategy has approximately 2.4 % of the 21 million bitcoin supplies, which increases its location as the largest bitcoin holder.
The company continues to use revenue from stock sales, including the joint shares of the “A” and the preferred stocks in the strike, to finance the ongoing bitcoin purchases.
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