KULR Technology adds $21M to Bitcoin Treasury, increasing holdings to 430 BTC

KULR Technology Group, Inc., a company specializing in thermal energy management, has significantly increased its Bitcoin holdings by acquiring 213.4 BTC worth $21 million. This move is part of the company’s broader strategy to allocate 90% of its cash reserves into Bitcoin, reflecting the growing trend of companies adopting cryptocurrency as a part of their treasury strategy. The purchase was made through Coinbase Prime, a platform designed for institutional investors, and brings KULR’s total Bitcoin holdings to 430.6 BTC, valued at approximately $42 million. The company’s average purchase price per Bitcoin is reported to be $97,537.

This is not the first time KULR has expanded its Bitcoin treasury. Just a few weeks prior, on December 26, 2024, the company had made another substantial purchase, acquiring 217.18 BTC for $21 million at an average price of $96,556 per BTC. By embracing Bitcoin as a major part of its financial strategy, KULR joins a growing number of institutions and companies that are moving toward cryptocurrency as a way to store and manage their wealth.

Founded in 2013 and headquartered in San Diego, KULR Technology has built a reputation for providing advanced thermal management solutions for a wide array of industries, including energy storage, electric vehicles, aerospace, and cloud computing. The company is particularly known for its innovative technology in battery safety and thermal energy management, serving sectors that require high-performance energy solutions.

CEO Michael Mo, who has long been a proponent of Bitcoin, explained that the company’s decision to move its cash reserves into Bitcoin aligns with its broader financial strategy. He stated that this strategy would not only help strengthen the company’s financial position but also support its operational expansion and long-term capital management through a more independent and diversified reserving strategy. Mo also emphasized Bitcoin’s role as a protective asset against macroeconomic risks, such as inflation and geopolitical uncertainties, which are becoming increasingly important in today’s global economic environment.

One of the key reasons behind KULR’s decision to hold Bitcoin is its limited supply. With a total of only 21 million Bitcoin available, the asset is seen as a hedge against inflation and economic instability. Many companies, like KULR, view Bitcoin as a secure and attractive asset due to its high potential for returns and its ability to provide liquidity in times of economic distress. This growing interest in Bitcoin among corporations aligns with a larger trend of institutional adoption of cryptocurrency, where businesses seek to capitalize on Bitcoin’s deflationary characteristics while also diversifying their financial assets.

Overall, KULR Technology’s strategic decision to invest heavily in Bitcoin demonstrates a growing recognition of the cryptocurrency’s potential not only as a store of value but also as a financial tool that can offer greater resilience against the uncertainties of the global financial system. As the company continues to expand and refine its operations in the thermal energy management industry, its increasing reliance on Bitcoin reflects its broader ambition to position itself at the forefront of both technological innovation and financial strategy.