KULR Buys $4 Million Worth of Bitcoin in Major Move

Technology company KULR has significantly increased its Bitcoin holdings, purchasing 42 Bitcoins for approximately $4 million at an average price of $94,403 per coin. This move brings their total Bitcoin reserves to 716.2 BTC, valued around $69 million. The acquisition follows KULR’s established treasury strategy which allocates up to 90% of its cash reserves to bitcoin. CEO Michael Mo, who led this strategic decision, emphasizes the company’s confidence in digital assets and plans to continue utilizing Bitcoin as a primary asset for their treasury.