KULR (KULR), a maker of advanced energy-management systems, said it spent $8 million on bitcoin (BTC) to take its total holdings to 510 tokens.
At a weighted average price of $101,695, that equates to almost 79 bitcoin and means the company’s total investment is now $50 million.
The purchase follows the Houston, Texas-based company’s Dec. 4 announcement that it will invest some of its surplus cash in the largest cryptocurrency as the adoption of bitcoin treasury for public companies gathers steam.
The company has achieved a bitcoin yield of 127% so far this year, it said in a statement shared with CoinDesk. The yield is the percentage change in the ratio of its bitcoin holdings to its full-diluted shares outstanding over a given period.
Since the investment strategy was announced, the company’s NYSE-traded shares have soared 90%, while bitcoin has added 7%. They closed Friday at $2.28 and were up 2.2% in pre-market trading Tuesday.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Russell Thompson warned of a sharp tightening in global liquidity that could weigh on risk…
Trump’s social media posts and statements to news reporters have triggered 5% to 12% swings…
For over a decade, Bitcoin has been championed as a financial system beyond the reach…
Bitcoin Magazine Capital B Buys 12 Bitcoin, Expands Treasury to 2,937 BTC Capital B, the…
Retail participation in the U.S. has bounced back to mid-2025 levels even as most consumers…
Reabold Resources' gas field is so large it could theoretically mine 50,000 BTC, local media…