EU and US could reach trade deal this weekend - Reuters
HOUSTON - KULR Technology Group, Inc. (NYSE American: KULR), a $360 million market cap company specializing in energy storage solutions and a proponent of Bitcoin as a reserve asset, announced today its new membership in the "Bitcoin for Corporations" initiative. According to InvestingPro data, the company’s stock has shown remarkable performance with a 323.7% return over the past year, despite current trading levels suggesting slight overvaluation based on Fair Value analysis. This move is part of KULR’s broader strategy to bolster its Bitcoin holdings and underscores its belief in the cryptocurrency’s long-term value.
The "Bitcoin for Corporations" platform, created by Strategy™ and Bitcoin Magazine, aims to propel the institutional adoption of Bitcoin. It offers tools and resources to help companies incorporate Bitcoin into their corporate treasuries. As an Executive Member, KULR now has access to these resources, which support the management and growth of its Bitcoin assets. InvestingPro analysis reveals the company maintains a strong financial position with a current ratio of 9.19, indicating robust liquidity to support its Bitcoin strategy.
In conjunction with joining this initiative, KULR disclosed an additional investment of $13 million into Bitcoin, bringing its total Bitcoin Treasury to $91 million. The purchase added 920 BTC to its holdings, with the average acquisition cost per Bitcoin at $98,760, inclusive of fees. The company’s Bitcoin yield for the year has reached 260%, funded through cash reserves and its At-The-Market equity program.
Michael Mo, CEO of KULR, expressed confidence in Bitcoin’s future as a monetary asset and noted the company’s eagerness to align with other institutions that are shifting towards Bitcoin-based treasury management. While analysts forecast 86% revenue growth for fiscal year 2025, InvestingPro subscribers can access 12 additional key insights about KULR’s financial health, growth prospects, and detailed valuation metrics through the comprehensive Pro Research Report, available exclusively to subscribers.
KULR Technology Group, which has been incorporating Bitcoin into its treasury since late 2024, commits up to 90% of its cash reserves for Bitcoin acquisitions. The company provides energy storage solutions for various sectors, including space, aerospace, and defense, and emphasizes rapid and cost-effective delivery of its systems.
This press release contains forward-looking statements, and the company’s actual results may differ from those suggested due to various risks and uncertainties. These statements are based on current expectations, forecasts, and assumptions, which may change over time.
The information in this article is based on a press release statement from KULR Technology Group, Inc.
In other recent news, KULR Technology Group reported its first-quarter 2025 earnings, revealing a revenue of $2.4 million, which fell short of the forecasted $3 million. The company’s earnings per share (EPS) also came in below expectations at -0.02 USD. Despite the revenue miss, KULR’s product revenue grew by 89%, with significant contributions from Bitcoin mining. KULR has been expanding its Bitcoin Treasury, purchasing an additional $9 million worth of bitcoin, bringing its total bitcoin holdings to 800.3 BTC. The company is set to join the Russell 3000® Index on June 30, 2025, which is expected to enhance its visibility and liquidity among institutional investors. Furthermore, KULR announced changes to its board of directors, appointing Shawn Canter and Aron Schwartz as new directors. Aron Schwartz will serve as the Chair of the Board’s Compensation Committee. Additionally, Jay K. Yamamoto has been appointed as the General Counsel and Secretary of the company. These developments reflect KULR’s strategic initiatives and evolving status in the market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.