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HOUSTON - KULR Technology Group, Inc. (NYSE American:KULR), a technology company with a market capitalization of $246 million and currently trading at $6.45, announced Thursday it has expanded its bitcoin holdings to approximately $101 million with additional acquisitions of about $10 million in bitcoin.
The company purchased the additional bitcoin at a weighted average price of $108,884 per bitcoin, including fees and expenses, and now holds a total of 1,021 BTC, according to a press release statement.
This move aligns with KULR’s Bitcoin Treasury Strategy announced in December 2024, which committed up to 90% of the company’s surplus cash reserves to bitcoin holdings.
KULR reports it has achieved a "BTC Yield" of 291.2% year to date, using a combination of surplus cash, a Coinbase credit facility, and its At-The-Market equity program to fund the purchases. While the stock has shown high volatility, InvestingPro analysis indicates the company is currently undervalued, with analysts setting price targets ranging from $12 to $48.
The company uses several metrics to track its bitcoin strategy performance, including "BTC Yield," which it calculates as the percentage change in the ratio of bitcoin holdings to assumed fully diluted shares outstanding.
KULR describes itself as a "Bitcoin First Company" that delivers energy storage solutions for space, aerospace, and defense sectors while maintaining bitcoin as a primary asset in its treasury program since late 2024.
The company notes that BTC Yield should not be interpreted as a measure of operating performance, financial return, or liquidity, and does not predict or reflect the stock’s market value.
KULR Technology Group develops and produces energy storage systems through in-house battery design expertise and comprehensive testing capabilities.
In other recent news, KULR Technology Group, Inc. has announced a 1-for-8 reverse stock split, effective June 23, 2025, reducing its outstanding shares from approximately 300 million to less than 40 million. This move is intended to optimize market dynamics and potentially broaden institutional investor participation as the company approaches its inclusion in the Russell 3000 Index later this month. KULR will also join the "Bitcoin for Corporations" initiative, expanding its Bitcoin treasury by $13 million, bringing its total holdings to 920 BTC. The company has reported a Bitcoin yield of 260% year-to-date, reflecting its strategic focus on cryptocurrency as a reserve asset.
Additionally, KULR has made significant changes to its board of directors and executive team, appointing Shawn Canter and Aron Schwartz as new directors and Jay K. Yamamoto as General Counsel and Secretary. These appointments are part of a broader strategy to strengthen the company’s leadership as it integrates Bitcoin into its financial operations. The company’s inclusion in the Russell 3000 Index, effective June 30, 2025, marks an important milestone, potentially enhancing its visibility and liquidity among institutional investors. This development comes as KULR continues to leverage its expertise in sustainable energy management solutions across various sectors.
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