KULR Technology Group has increased its Bitcoin investments, now holding a total of 668.3 BTC after acquiring an additional $5 million of the cryptocurrency.
The firm purchased the Bitcoin (BTC) at an average cost of $88,824 per BTC, including transaction fees, in line with its treasury management strategy.
This most recent acquisition follows KULR’s December 2024 decision to dedicate as much as 90% of its extra cash reserves into Bitcoin.
To date, the company has reported a 181.1% BTC Yield, a figure it uses to measure the percentage change in its Bitcoin assets compared to its fully diluted shares outstanding.
CEO Michael Mo has previously stated that the adoption of Bitcoin plays a vital role in KULR’s strategy, mirroring a broader trend as many corporations adopt Bitcoin as a treasury asset.
Moreover, a growing number of U.S. states are exploring the possibility of incorporating Bitcoin into their treasury and financial frameworks.
KULR focuses on energy storage and management solutions. According to Google, its current stock price stands at $1.73 per share.