KULR Technology Group, a Bitcoin-first company listed on the NYSE American, has announced a $20 million credit facility with a subsidiary of the cryptocurrency exchange Coinbase, funds the company plans to use to acquire more Bitcoin.
KULR, which has added to its Bitcoin (BTC) holdings since announcing plans to establish a BTC treasury strategy, said in a press release on July 8 that the $20 million credit facility is from Coinbase Credit and will be a multi-draw facility.
The company intends to use the facility to purchase additional Bitcoin once Coinbase executes the offer. For a firm that previously committed to allocating up to 90% of its cash surplus toward acquiring Bitcoin as a treasury asset, securing this financing marks a renewed commitment to its BTC-first strategy.
In a statement, KULR Technology Group CEO Michael Mo said:
“This marks KULR’s first bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate. It reflects our commitment to diversifying our funding sources as we continue to execute on long-term growth strategies to drive shareholder value.”
Bitcoin treasury companies
Since its initial announcement on buying Bitcoin in December 2024, KULR has increased its BTC holdings significantly in 2025.
The company held about 430 BTC in early January, but has since boosted that to 920 BTC, its total holdings as of early June. Notably, the company is a member of the Bitcoin for Corporations group led by major Bitcoin treasury company Strategy – formerly MicroStrategy.
Michael Saylor’s Strategy tops the list of public Bitcoin treasury companies with 597,325 BTC, while MARA Holdings, Riot Platforms, Metaplanet, and Galaxy Digital Holdings round out the top six.
According to market data, KULR’s 920 Bitcoin stack puts it position 34, just behind Core Scientific, a company set to be acquired by CoreWeave.
There are 60 top public BTC treasury companies, with Rumble, DeFi Technologies and Prenetics among those to join the “MicroStrategy” inspired BTC holders. Many of the companies have taken debt to add Bitcoin to their balance sheets.
KULR, which picked Coinbase Prime as its partner for custody, stablecoin USDC (USDC), and self-custodial wallet services, will secure the Coinbase credit facility using a portion of its BTC holdings.
