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HOUSTON - KULR Technology Group, Inc. (NYSE American: KULR), a company specializing in advanced energy management solutions, has announced the expansion of its Bitcoin Treasury, investing an additional $10 million into bitcoin. This purchase increases the company’s total bitcoin holdings to approximately $60 million. The company, currently valued at $557 million in market capitalization, has seen its stock surge over 2,100% in the past year, according to InvestingPro data.
The acquisition, comprising 610.3 BTC, was made at a weighted average price of $103,905 per bitcoin, including fees and expenses. The move is in line with KULR’s strategy, revealed on December 4, 2024, to allocate up to 90% of its surplus cash reserves into the cryptocurrency. InvestingPro analysis indicates that KULR’s current ratio of 0.81 suggests short-term obligations exceed liquid assets, making this bitcoin investment strategy particularly significant for the company’s asset allocation.
KULR is using BTC Yield as a key performance indicator (KPI) to gauge the efficacy of its Bitcoin Treasury strategy. The company has reported a 167.3% BTC Yield year to date, a metric that reflects the change in the ratio of bitcoin holdings against the company’s assumed fully diluted shares outstanding.
The company highlights that while BTC Yield offers insights into its bitcoin acquisition strategy, it should not be considered a measure of operating performance, financial return, or liquidity. KULR also notes that its stock price is subject to various factors beyond its bitcoin investments, and BTC Yield does not directly correlate with market value. According to InvestingPro metrics, KULR operates with a moderate debt level and maintains a gross profit margin of 41.5%, though it’s currently not profitable over the last twelve months. For deeper insights into KULR’s financial health and detailed analysis, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
Investors are encouraged to view BTC Yield as an additional tool and to consult KULR’s financial statements and SEC filings for a comprehensive understanding of the company’s financial position.
KULR Technology Group Inc. provides energy storage solutions for various sectors, including space, aerospace, and defense. The company’s approach combines its battery design expertise, testing capabilities, and production facilities to deliver both off-the-shelf and custom energy storage systems. With revenue of $9.7 million in the last twelve months and a growth rate of 4.2%, KULR demonstrates its expanding market presence despite current profitability challenges.
This announcement is based on a press release statement from KULR Technology Group, Inc. and does not serve as an offer to sell or a solicitation of an offer to buy any securities.
In other recent news, KULR Technology Group has expanded its common stock offering from $50 million to $100 million in collaboration with Craig-Hallum Capital Group. This move allows KULR to issue an additional $50 million of its common stock, following the sale of approximately $96 million worth of common stock under the same agreement. Concurrently, KULR has partnered with Scripps Research Institute’s Baran Lab to develop a new pyrolytic carbon (PC) electrode material, offering a cost-effective and scalable alternative to traditional carbon electrodes.
Additionally, KULR has issued 270,000 shares of its Non-convertible Series A Voting Preferred Stock to its Chairman and CEO, Michael Mo, as a strategy to enhance the company’s flexibility and protect against potential hostile actions. The company also adjusted executive officers’ cash compensation, including an increase in the CEO’s salary to $450,000 along with a grant of 2,000,000 restricted stock units.
In another development, KULR successfully regained compliance with the NYSE American continued listing standards, ending the company’s noncompliance status. These recent developments are part of KULR’s ongoing business strategies and expansion efforts.
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