KULR Launches Bitcoin Treasury with Purchase of 217.18 Bitcoin for $21 Million
HOUSTON, Dec. 26, 2024 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE:KULR) (the "Company" or "KULR"), a leader in advanced energy management platforms, today announced that it has completed the purchase of 217.18 Bitcoin ("BTC") for approximately $21 million, at an average price of $96,556.53 per BTC.
The purchase follows the Company's announcement on December 4th of its Bitcoin Treasury strategy in which it announced allocating up to 90% of its surplus cash to BTC. The $21 million of BTC purchased since the announcement is the first of ongoing purchases the Company intends to make going forward. KULR selected Coinbase's (NASDAQ:COIN) Prime platform to provide custody, USDC, and self-custodial wallet services for its BTC.
For more information, visit www.kulrtechnology.com.
About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE:KULR) delivers cutting edge energy storage solutions for space, aerospace, and defense by leveraging a foundation of in-house battery design expertise, comprehensive cell and battery testing suite, and battery fabrication and production capabilities. The Company's holistic offering allows delivery of commercial-off-the-shelf and custom next generation energy storage systems in rapid timelines for a fraction of the cost compared to traditional programs. For more information, please visit www.kulrtechnology.com.
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