KULR Invests $21 Million in Bitcoin as Part of Treasury Strategy

We are pleased to announce KULR Technology Group's latest strategic move, investing $21 million in Bitcoin as part of its treasury strategy. The company, a leader in advanced energy management platforms, has completed the purchase of 217.18 Bitcoin (BTC) at an average price of $96,556.53 per BTC. This investment aligns with KULR's commitment to innovation, adaptability, and responsible financial management.

KULR's Bitcoin Investment: A Strategic Move

KULR's investment in Bitcoin is part of a broader trend among companies adopting the cryptocurrency as a reserve asset. By allocating up to 90% of its surplus cash to Bitcoin, KULR is diversifying its treasury and potentially hedging against inflation and economic uncertainty. As stated by KULR's Chairman and CEO, Michael Mo, "We believe the growing global acceptance of bitcoin is still in its early stages... Given our improved balance sheet, including increased cash balances, I am confident that a bitcoin treasury strategy will strengthen KULR’s financial position."

KULR Joins the Growing List of Companies Adopting Bitcoin

KULR is joining a growing list of companies that have adopted Bitcoin as a reserve asset. Some notable examples include:

- MicroStrategy: A pioneer in corporate Bitcoin adoption, MicroStrategy holds over 150,000 BTC, worth billions of dollars at current prices.
- Tesla: The electric vehicle giant initially invested $1.5 billion in Bitcoin, although it later sold a portion due to environmental concerns.
- Block, Inc. (formerly Square): The financial services and digital payments company has integrated Bitcoin into its ecosystem, allowing users to buy and sell the cryptocurrency through its Cash App.



KULR's Bitcoin Investment: A Complement to Its Energy Management Solutions

KULR's investment in Bitcoin aligns with its commitment to innovation and adaptability in energy management technologies. By adopting Bitcoin as a primary asset in its treasury program, KULR demonstrates a forward-thinking approach to financial management. The company is embracing a new, digital asset class that has the potential for long-term appreciation and hedging against inflation and geopolitical risks.

Moreover, KULR's selection of Coinbase's Prime platform for custody, USDC, and self-custodial wallet services for its BTC further demonstrates its commitment to responsible and secure management of its Bitcoin holdings. This choice aligns with the company's holistic approach to delivering cutting-edge energy storage solutions, ensuring that its financial strategies are as robust and innovative as its core offerings.

In conclusion, KULR's investment in Bitcoin is a strategic move that aligns with its commitment to innovation, adaptability, and responsible financial management. By joining the growing list of companies adopting Bitcoin as a reserve asset, KULR is positioning itself to benefit from the long-term appreciation of the cryptocurrency and hedging against inflation and economic uncertainty. As the company continues to expand its operations, its Bitcoin treasury strategy will play a crucial role in strengthening its financial position.