KULR Technology Group announced the completion of its first Bitcoin purchase, acquiring 217.18 BTC for approximately $21 million. The acquisition was made at an average price of $96,556.53 per Bitcoin.
This purchase follows the company’s announcement on December 4, 2024, regarding its Bitcoin Treasury strategy, which committed to allocating up to 90% of its surplus cash to Bitcoin. The $21 million investment is the initial step in ongoing purchases the company intends to make.
KULR selected Coinbase’s Prime platform to provide custody, USDC, and self-custodial wallet services for its Bitcoin holdings. This move solidifies KULR's strategic pivot into digital assets as a core component of its financial management.
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