KULR Doubles Down on Bitcoin, Buys $31M in Crypto

Publicly traded firm KULR Technology Group has expanded its Bitcoin holdings, adding more of the cryptocurrency to its treasury. The San Diego-based company, which specializes in energy storage solutions for aerospace and defense industries, initially purchased 217.18 Bitcoin in December 2024 for approximately $21 million. In January 2025, KULR bought another $21 million worth of Bitcoin, and on February 11, 2025, it announced a further $10 million purchase.

As a result of these acquisitions, KULR now holds 610.3 Bitcoin, valued at over $59 million based on the current price of approximately $97,000 per coin. The company's stock price has seen a decline of more than 4% since the announcement, trading at $2.26 per share. KULR has stated its commitment to allocating up to 90% of its surplus cash reserves into Bitcoin.

KULR's strategy aligns with that of MicroStrategy, a software firm that began purchasing Bitcoin in 2020 as a means to generate higher returns for shareholders. MicroStrategy now holds 478,740 Bitcoin, worth $46.4 billion. The company's co-founder and chairman, Michael Saylor, has expressed the belief that buying Bitcoin can help a company "live forever."

Other public companies, such as social media marketing company Thumzup, healthcare company, and video streaming platform Rumble, have also adopted similar strategies, investing in Bitcoin to diversify their portfolios and potentially generate higher returns for shareholders.