On Tuesday, KULR Technology Group, Inc (NYSE:KULR) announced it has increased its purchases for its Bitcoin (CRYPTO: BTC) Treasury by an additional $8 million to reach $50 million in Bitcoin acquisitions.
The company made the additional purchases at a weighted average price of $101,695 per bitcoin, including fees and expenses. It now holds 510 bitcoins.
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This move aligns with KULR’s Bitcoin Treasury Strategy, announced on December 4, 2024. The company committed to holding up to 90% of its surplus cash reserves in Bitcoin.
Year to date, KULR has achieved a Bitcoin Yield of 127%, leveraging a combination of surplus cash and its At-The-Market (ATM) equity program to fund purchases.
KULR uses “Bitcoin Yield” as a key performance indicator (KPI) for its Bitcoin Treasury strategy.
Bitcoin Yield is calculated as the percentage change, period to period, in the ratio of the company’s Bitcoin holdings to its assumed fully diluted shares outstanding.
Price Action: At the last check on Tuesday, KULR stock traded higher by 3.51% to $2.35 premarket.
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This article KULR Adds $8 Million In Bitcoin, Growing Total To BTC Worth $50 Million originally appeared on Benzinga.com
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