In brief
- KULR bought $9 million worth of Bitcoin for its treasury.
- The total value of its Bitcoin Treasury is now worth $78 million.
- KULR is just one of several public companies that has adopted Strategy’s Bitcoin-buying playbook.
Energy storage company KULR Technology Group has bought an additional $9 million Bitcoin for its corporate treasury, the company announced Tuesday, part of a recent surge of companies that have been building treasuries of the digital asset.
Publicly traded KULR, which has headquarters in Houston, now holds 800.3 tokens worth about $85 million, based on current pricing.
The company bought its latest Bitcoin at an average price of $103,234 per token. Bitcoin was recently trading at roughly $106,200, up about a percentage point over the past 24 hours and more than 25% over the past month, according to crypto markets data provider CoinGecko.
KULR is trading at $1.24 as of writing time, down 3% over the past 24 hours.
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Author: Liz Napolitano
