Energy-management firm KULR (KULR) is looking to raise up to $300 million by selling shares of its common stock in an at-the-market (ATM) offering facilitated by Cantor Fitzgerald.
The funds will be used for general corporate purposes, including working capital and the acquisition of more bitcoin BTC, the company said in an SEC filing.
California-based KULR began using bitcoin as its primary treasury reserve asset in late 2024, adopting a strategy similar to that of Strategy (MSTR). It currently holds 800 BTC, according to BitcoinTreasuries data.
Many companies looking to build up their bitcoin treasury holdings have turned to at-the-market programs fund the purchases. These include Strategy, which also included preferred stock ATM programs, as well as The Blockchain Group, MARA Holdings and Semler Scientific.
To support its accumulation efforts, KULR also leased 5,500 S-19 bitcoin miners in two agreements totaling over $4 million, according to the filing.
So far, the company has earned nearly 10 BTC from these operations. It has purchased hundreds more on the open market through Coinbase, adding in 449.45 BTC in the three months ending on March 31, and an additional 244.36 BTC since.
KULR’s shares have gained 3.4% today to $1.22.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Bitcoin Magazine Strategy Skips Bitcoin Again, Buys Back $25M of STRC Stock Bitcoin treasury Strategy…
The Ethereum treasury company added nearly 10,000 ETH while expanding its stock buyback, citing ether…
The put/call ratio has fallen to about 0.52 from 0.76 in late June, and one-week…
The vast majority of the activity was concentrated in BlackRock’s IBIT product accounting for nearly…
Your day-ahead look for July 27, 2026Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
CoinEx's Jeff Ko sees bitcoin staying range-bound near $65,000 while retreating oil, a 4.7% 10-year…