Stock Track | KULR Technology Group Soars 7.64% in Pre-Market on Bitcoin Treasury Launch

Stock Track

Dec 26, 2024

KULR Technology Group, Inc. (KULR) stock surged 7.64% in the pre-market session on Thursday, following the company's announcement of launching a Bitcoin Treasury strategy. The company completed the purchase of 217.18 Bitcoin (BTC) for approximately $21 million, at an average price of $96,556.53 per BTC.

This purchase marks the first step in KULR's strategy to allocate up to 90% of its surplus cash to Bitcoin, as announced on December 4th. The company selected Coinbase's Prime platform to provide custody, USDC, and self-custodial wallet services for its Bitcoin holdings.

The move to invest in Bitcoin is seen as a diversification strategy for KULR, which is a leader in advanced energy management platforms. Investors appear to have responded positively to the company's embrace of cryptocurrency as a potential hedge against inflation and currency debasement.

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(KULR) stock surged 7.64% in the pre-market session on Thursday, following the company's announcement of launching a Bitcoin Treasury strategy. The company completed the purchase of 217.18 Bitcoin (BTC) for approximately $21 million, at an average price of $96,556.53 per BTC.</p>\n\n<p>This purchase marks the first step in KULR's strategy to allocate up to 90% of its surplus cash to Bitcoin, as announced on December 4th. The company selected Coinbase's Prime platform to provide custody, USDC, and self-custodial wallet services for its Bitcoin holdings.</p>\n\n<p>The move to invest in Bitcoin is seen as a diversification strategy for KULR, which is a leader in advanced energy management platforms. Investors appear to have responded positively to the company's embrace of cryptocurrency as a potential hedge against inflation and currency debasement.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"KULR","symbol_name":"KULR Technology Group, Inc.","start_time":0,"source_url":"","article_id":"1120122716","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1120122716","pubTimestamp":1735220176,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"KULR Technology Group, Inc.  stock surged 7.64% in the pre-market session on Thursday, following the company's announcement of launching a Bitcoin Treasury strategy. 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