KULR (KULR) a leader in advanced energy management has acquired an additional $5 million worth of bitcoin (BTC), bringing its total bitcoin treasury holdings to $65 million, the company announced on Tuesday.
The latest purchase was made at an average price of $88,824 per bitcoin, increasing the company’s total holdings to 668.3 BTC. This move is in line with KULR’s bitcoin treasury strategy, first announced in December, which allows for up to 90% of its surplus cash reserves to be held in bitcoin.
Year to date, KULR has achieved a bitcoin yield of 181.1%, utilizing a mix of cash and its at-the-market (ATM) equity program to fund acquisitions. The bitcoin yield is a key performance indicator (KPI) for the company, calculated by assessing the percentage change period over period in the ratio ofbBitcoin holdings to KULR’s assumed fully diluted shares outstanding. This metric reflects the company’s efficiency in increasing BTC exposure relative to shareholder dilution.
KULR stock is trading 3.5% higher in the pre-market session.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Solo Bitcoin mining has surged, with 24 blocks found in the past 12 months, a…
Major cryptocurrencies have dropped by 2% or more in 24 hours as traders boosted bets…
Bitcoin Magazine Bitwise Sees a Bottom in Bitcoin’s Worst Vibes Yet: ‘Darkest Before the Dawn’ …
Strategy now has more than 20 months of coverage for preferred-stock dividends and debt interest.Read…
Analysts point to bitcoin’s resilience amid fresh U.S.-Iran escalation and renewed spot ETF inflows as…
Bitcoin’s move back toward the $64,000 area gives bulls something to work with, but it…