KULR acquires another 100 bitcoin for $10 million as its total holdings reach 610 BTC

KULR Technology Group has acquired another 100 BTC for approximately $10.4 million at an average price of $103,905 per bitcoin, inclusive of fees and expenses, according to an 8-K filing with the Securities and Exchange Commission on Tuesday.

The company now holds a total of 610.3 BTC, worth nearly $60 million at current prices, acquired at an average price of $98,312 per bitcoin, according to KULR CEO Michael Mo.

These latest acquisitions align with KULR’s bitcoin treasury strategy announced on Dec. 4, 2024, committing up to 90% of its surplus cash reserves to be held in bitcoin, the firm said in a statement .

KULR specializes in thermal management solutions designed to improve the safety and efficiency of energy storage systems, especially for lithium-ion batteries. It is also among an increasing number of firms looking to emulate Strategy's (formerly MicroStrategy) bitcoin acquisition playbook, alongside Semler Scientific , Metaplanet and Japanese game maker Gumi , among others.

Like those firms, KULR uses a key performance indicator known as BTC Yield to assess the effectiveness of its bitcoin acquisition strategy in driving shareholder value. BTC Yield represents the percentage change period-to-period of the ratio between KULR’s bitcoin holdings and its assumed diluted shares outstanding. Year-to-date, KULR said it has achieved a BTC Yield of 167.3%, leveraging a combination of surplus cash and its at-the-market equity program to fund purchases.

KULR’s stock closed up more than 28% on Monday and is currently up 0.4% in pre-market trading on Tuesday, according to TradingView.

On Monday, Strategy resumed its bitcoin buying spree after a single week's pause, announcing it had acquired an additional 7,633 BTC for approximately $742.4 million at an average price of $97,255 per bitcoin between Feb. 3 and Feb. 9.

The company now holds 478,740 BTC, worth over $46 billion, having acquired more than $20 billion worth in its prior 12-week acquisition streak alone.