KULR Technology Group deepened its commitment to Bitcoin by joining the “Bitcoin for Corporations” initiative and adding 118 BTC to its growing treasury.
The Houston-based energy storage company now holds a total of 920 BTC, acquired for approximately $91 million at an average purchase price of $98,760 per coin, according to a note shared with crypto.news
The BFC initiative, led by Strategy and Bitcoin Magazine, aims to help public companies integrate Bitcoin (BTC) into their corporate treasuries by offering institutional tools and peer support.
As an Executive Member, KULR aligns itself with other companies using Bitcoin as a long-term reserve asset.
Bitcoin as a store of long-term value
CEO Michael Mo reaffirmed the company’s belief in Bitcoin’s long-term value, stating that KULR’s participation in BFC reflects a strategic approach to corporate treasury management. Since designating Bitcoin as a core treasury asset in late 2024, KULR has committed to allocating up to 90% of its surplus cash toward Bitcoin acquisitions.
In this latest move, KULR spent $13 million on its most recent Bitcoin purchase, paying an average of $107,861 per BTC.
Year-to-date, the company has realized a BTC yield of 260%, utilizing a combination of cash reserves and its At-The-Market equity program to fund acquisitions.
This strategic accumulation places KULR among a growing list of firms turning to Bitcoin as an inflation hedge and long-term asset. The company’s stock currently trades at $1.20 per share.
KULR specializes in energy storage solutions for aerospace, defense, and space industries.
