KULR Technology spends another $10 million on bitcoin, joins 1,000-BTC club
KULR Technology Group has acquired another 90 BTC for approximately $10 million at an average price of $108,884 per bitcoin, inclusive of fees and expenses, according to an 8-K filing with the Securities and Exchange Commission on Thursday. The company now holds a total of 1,021 BTC, worth $113 million at current prices, acquired at an average price of $98,627 per bitcoin for a total cost of around $101 million, according to KULR CEO Michael Mo, implying approximately $12 million worth of paper gains.The latest acquisitions align with KULR's bitcoin treasury strategy, announced in December, which leverages a combination of surplus cash, its recently announced Coinbase credit facility, and its $300 million at-the-market equity program to fund purchases, according to a statement.On July 8, KULR borrowed $8 million as the first drawdown under its $20 million credit facility with Coinbase Credit, Inc., a subsidiary of Coinbase Global, Inc. The loan carries an 8% fee and is secured by approximately 166 BTC, covering 156.25% of the principal, the firm said in its Thursday filing. Joining the 1,000 BTC clubKULR specializes in thermal management solutions designed to improve the safety and efficiency of energy storage systems, especially for lithium-ion batteries.It is now ranked 31st among the 138 public firms looking to emulate Strategy's bitcoin acquisition playbook, alongside Semler Scientific, Metaplanet, and others, according to Bitcoin Treasuries data — becoming a member of the 1,000 BTC club for the first time.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 from 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 291.2%.KULR's stock closed down 5.7% on Wednesday at $6.45, according to The Block's KULR price page, and is currently flat in on Thursday.KULR/USD price chart. Image: The Block/TradingView.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.