KULR Technology Group, Inc. (NYSE: KULR) rallied 5.26% in pre-market trading on Tuesday, following the company's announcement that it has increased its Bitcoin holdings to 510 BTC, worth around $50 million.
The energy storage solutions provider acquired an additional $8 million worth of Bitcoin at an average price of $101,695 per BTC. This move aligns with KULR's "Bitcoin Treasury Strategy" revealed in December 2024, which committed up to 90% of the company's surplus cash reserves to be held in Bitcoin.
KULR reported achieving a year-to-date "Bitcoin Yield" of 127%, a proprietary metric tracking the percentage change in the ratio of its Bitcoin holdings to outstanding shares. The company has leveraged a combination of surplus cash and an equity program to fund its Bitcoin acquisitions.
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