KULR Does Not Cool Down: Acquires $21 Million Worth of Bitcoin

KULR, a company adopting a bitcoin-first strategy, has recently acquired $21 million worth of BTC as part of its accumulation program. The company aims to allocate 90% of its free cash reserves to bitcoin.

KULR Kicks Off 2025 by Buying Bitcoin

KULR, an energy management services company, has started 2025 by filling its bitcoin coffers. The company recently announced that it had expanded on its bitcoin treasury strategy, acquiring more bitcoin to fulfill its reserve goals.

Through a press release, KULR specified that it acquired an additional $21 million worth of BTC, adding to its bitcoin stack at a weighted average price of $98,393.58 per bitcoin.

This purchase marks an acceleration of KULR’s strategy, which was announced on December 4th. At the time, the company committed to investing 90% of its free cash reserves in bitcoin.

Michael Mo, Chairman and CEO of KULR, has expressed confidence in KULR’s bitcoin pivot, stating that he believes BTC “provides long-term appreciation and a bulwark against geopolitical, inflationary, and other macro-economic and political trends affecting all developed economies.”

KULR follows in the footsteps of pioneers like Microstrategy, Metaplanet, and Semler Scientific, companies that have also adopted bitcoin-first strategies.

Mo has openly acknowledged the influence of Saylor in KULR’s moves. Answering a post of Microstrategy’s co-founder and executive chairman Michael Saylor commenting on this bitcoin purchase, he stated:

Thank you Saylor for guiding all of us to the future of money!

This BTC purchase would be the second since KULR announced its bitcoin-first strategy in December. As of today, KULR holds 430.61 BTC acquired for approximately $42 million at nearly $97,391 per unit.

While KULR has not set a determined number of BTC as a goal, the company has stated that these purchases mark only the beginning of its moves and that more purchases will follow.

Nonetheless, the market reacted coldly to this purchase, as KULR’s stock prices traded just 3% up after the news. In opposition, following KULR’s first bitcoin purchase on December 26, stock prices rose wildly breaking previously set all-time-high numbers.

Read more: KULR’s Bold Move to Bitcoin Pays Off: Stock Soars to All-Time High