On Tuesday, KULR Technology Group, Inc (NYSE:KULR) announced that it has increased its Bitcoin (CRYPTO: BTC) Treasury purchases by an additional $8 million, bringing its Bitcoin acquisition value to $50 million.
The company made the additional purchases at a weighted average price of $101,695 per Bitcoin, including fees and expenses. Currently, I have 510 Bitcoins.
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This move is in line with KULR’s Bitcoin Financial Strategy announced on December 4, 2024. The company has committed to holding up to 90% of its excess cash reserves in Bitcoin.
Year-to-date, KULR has achieved a Bitcoin yield of 127% by leveraging its purchase capital through a combination of excess cash and an at-the-market (ATM) equity program.
KULR uses “Bitcoin Yield” as a key performance indicator (KPI) for its Bitcoin financial strategy.
Bitcoin yield is calculated as the period-to-period percentage change in the company’s Bitcoin holdings, assuming fully diluted shares outstanding.
Price Action: At last check on Tuesday, KULR stock was trading at $2.35, up 3.51% pre-market.
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This Article: KULR Adds $8 Million in Bitcoin, Grows Total to $50 Million Worth of BTC
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