KULR (KULR), a leader in advanced energy management, has announced the acquisition of an additional $5 million worth of bitcoin (BTC), bringing its total bitcoin treasury holdings to an impressive $65 million. This was made public via the company’s official channels on Tuesday.
The latest purchase of bitcoin was executed at an average price of $88,824 per bitcoin, increasing KULR’s total holdings to 668.3 BTC. This acquisition aligns with KULR’s bitcoin treasury strategy, which was first laid out in December. The company has established a framework that permits up to 90% of its surplus cash reserves to be maintained in bitcoin, demonstrating a strong commitment to cryptocurrency as part of its financial strategy.
Year to date, KULR has reported a significant bitcoin yield of 181.1%. This figure is particularly noteworthy as it is derived from the company’s strategic utilization of cash reserves in conjunction with its at-the-market (ATM) equity program to finance these bitcoin acquisitions. The bitcoin yield serves as a key performance indicator (KPI) for the organization. It is calculated by examining the percentage change period over period in the ratio of Bitcoin holdings against KULR’s assumed fully diluted shares outstanding. This metric is crucial as it illustrates the company’s efficiency in enhancing BTC exposure while managing shareholder dilution.
In a positive reflection of market sentiment, KULR stock is trading 3.5% higher in the pre-market session following this announcement.
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