KULR Technology Group, Inc. a US tech company that specializes in build energy management platforms and trades as KULR on the NYSE (New York Stock Exchange), has today, December 26, 2024, announced the acquisition of 217.18 BTC for about $21 million, at an average price of $96,556.53 per BTC, in accordance with its newly adopted Bitcoin Treasury Strategy which it announced on December 4, 2024.
This purchase comes after the company announced that it was allocating around 90% of its surplus cash to Bitcoin. The recent purchase is also the first in an ongoing series of BTC purchases relating to its Bitcoin Treasury Strategy which the company plan to make going forward.
KULR Technology Group, Inc. is a US company that specializes in advance energy management, through provision of energy storage solutions for aerospace, space and defense. The company has expertise in battery design and a robust battery and cell testing suite. It also boasts cutting edge battery fabrication and production capabilities.
It joins the likes of Tesla, in publicly declaring ownership of Bitcoins and joins the likes of Microstrategy Inc. in adopting a Bitcoin Strategy.
KULR has chosen Coinbase - a US-based centralized crypto exchange giant, to take custody of its Bitcoins.
