KULR expands Bitcoin holdings with 118 BTC, joins ‘Bitcoin for Corporations’ initiative

KULR Technology Group deepened its commitment to Bitcoin by joining the “Bitcoin for Corporations” initiative and adding 118 $BTC to its growing treasury.

The Houston-based energy storage company now holds a total of 920 $BTC, acquired for approximately $91 million at an average purchase price of $98,760 per coin, according to a note shared with crypto.news

The BFC initiative, led by Strategy and Bitcoin Magazine, aims to help public companies integrate Bitcoin ($BTC) into their corporate treasuries by offering institutional tools and peer support.

As an Executive Member, KULR aligns itself with other companies using Bitcoin as a long-term reserve asset.

Bitcoin as a store of long-term value

CEO Michael Mo reaffirmed the company’s belief in Bitcoin’s long-term value, stating that KULR’s participation in BFC reflects a strategic approach to corporate treasury management. Since designating Bitcoin as a core treasury asset in late 2024, KULR has committed to allocating up to 90% of its surplus cash toward Bitcoin acquisitions.

In this latest move, KULR spent $13 million on its most recent Bitcoin purchase, paying an average of $107,861 per $BTC.

Year-to-date, the company has realized a $BTC yield of 260%, utilizing a combination of cash reserves and its At-The-Market equity program to fund acquisitions.

This strategic accumulation places KULR among a growing list of firms turning to Bitcoin as an inflation hedge and long-term asset. The company’s stock currently trades at $1.20 per share.

KULR specializes in energy storage solutions for aerospace, defense, and space industries.