Publicly traded company KULR buys 217.18 Bitcoins at an average price of $96,556 each

BlockBeats News, December 26th, KULR Technology Group, Inc. (NYSE American: KULR), a publicly traded company in the US stock market, has initiated its Bitcoin reserve strategy by purchasing $21 million worth of 217.18 Bitcoins, at an average price of $96,556 per Bitcoin.

Through the Coinbase Prime platform for custody and wallet management, KULR will allocate up to 90% of its surplus cash to Bitcoin.

KULR currently holds over $12 million in cash on its balance sheet and expects future cash surpluses, thus committing to allocate 90% of its surplus cash to BTC. KULR's Bitcoin purchases will be guided by market dynamics and anticipated cash flow needs. The company stated that it remains adaptable and can adjust its approach based on evolving circumstances and strategic considerations. KULR is an energy management platform that provides cutting-edge energy solutions for space, aerospace, and defense.