KULR Boosts Bitcoin Treasury to $60M, Sees 167% Yield

KULR Technology Group, Inc. (NYSE:KULR) announced on Tuesday that it has expanded its Bitcoin Treasury by purchasing an additional $10 million worth of Bitcoin, bringing its total Bitcoin acquisitions to approximately $60 million. The company stated that the additional purchases were made at a weighted average price of $43,000 per Bitcoin.

The company also reported a 167% yield on its Bitcoin holdings, indicating a significant return on investment. This news comes as Bitcoin's price has been volatile in recent months, with the cryptocurrency reaching an all-time high of $68,000 in November 2021 before falling to around $35,000 in January 2022.

KULR's decision to expand its Bitcoin holdings is a sign of the growing acceptance of cryptocurrencies by mainstream companies. The company's CEO, Michael Mo, stated that "Bitcoin has proven to be a valuable asset for our company, and we believe that it will continue to be a significant part of our investment portfolio."

The company's stock price has been volatile in recent months, with a 52-week range of $1.25 to $12.50. However, the company's decision to expand its Bitcoin holdings may indicate a renewed confidence in the cryptocurrency market.

KULR Technology Group, Inc. is a technology company that specializes in the development of thermal management solutions for electronics. The company's products are used in a variety of industries, including aerospace, defense, and consumer electronics.