The post KULR Invests $10M More in Bitcoin, Achieves 167% Yield appeared first on Coinpedia Fintech News

KULR Technology Group, Inc. a leader in advanced energy management platforms, in a recent announcement revealed that it has increased its bitcoin purchases for its Bitcoin Treasury by an additional $10 million to reach a total of approximately $60 million in bitcoin acquisitions.

The additional purchases were made at a weighted average price of $103,905 per bitcoin, inclusive of fees and expenses. The Company now holds 610.3 BTC.

KULR’s Bitcoin Treasury Strategy

This move aligns with KULR’s Bitcoin Treasury Strategy, announced on December 4, 2024, where the company pledged to hold up to 90% of its surplus cash reserves in bitcoin.

Besides, Year to date, KULR has achieved a BTC Yield of 167.3%, leveraging a combination of surplus cash and its At-The-Market (ATM) equity program to fund purchases. Notably, BTC Yield measures the change in KULR’s Bitcoin holdings compared to its total shares outstanding. KULR’s shares dropped nearly 2% in premarket trading, following a 28% increase on Monday.

MSTR, KULR Make Big Bets On BTC

It is clearly evident that MicroStrategy and KULR Technology have both made waves with their Bitcoin investments. MicroStrategy, which began buying Bitcoin in 2020, now holds 478,740 BTC. Besides, KULR which plans to invest 90% of its surplus cash into Bitcoin, made its first purchase of 217.18 BTC on Dec. 6, worth $20.4 million.

As per a report from Nasdaq, as of January 3, during the past 12 months, MicroStrategy’s stock rose 380% as KULR’s stock skyrocketed almost 1,800%. Four years ago, Microstrategy shifted its strategy to invest heavily in Bitcoin. With Bitcoin now trading at around $97,000, this strategy has proven to be highly profitable for the company.

MicroStrategy on Wednesday announced it is now operating under the name Strategy, and will continue to trade under the ticker MSTR. The company noted that the brand simplification is intended to reflect its focus on bitcoin and artificial intelligence.

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