Key Takeaways:
- KULR Technology Group acquires 118.6 BTC for $13 million
- Total bitcoin holdings reach 920 BTC valued at $91 million
- Average purchase price of recent acquisition: $107,861 per BTC
In a significant move that reinforces the growing trend of corporate bitcoin adoption, KULR Technology Group Inc. has announced a substantial addition to its bitcoin treasury. The company has acquired 118.6 BTC for approximately $13 million, bringing its total holdings to an impressive 920 BTC.
This latest acquisition follows KULR’s recent announcement of a $300M ATM offering for BTC reserve expansion, demonstrating the company’s strong commitment to its bitcoin treasury strategy.
Strategic Bitcoin Acquisition Analysis
The recent purchase was executed at an average price of $107,861 per bitcoin, reflecting current market conditions where BTC has been trading near all-time highs. KULR’s total bitcoin investment now stands at approximately $91 million, with an average acquisition price of $98,760 per BTC across all purchases.
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Corporate Bitcoin Treasury Trend
KULR’s bitcoin acquisition represents a growing trend among publicly traded companies adding BTC to their treasury reserves. This movement has gained significant momentum as corporations seek to diversify their holdings and hedge against inflation.
Market Impact and Future Outlook
The strategic timing of KULR’s purchase coincides with bitcoin’s strong performance in the market, where prices have remained consistently above $100,000. This corporate accumulation could contribute to reduced available supply and potentially support further price appreciation.
FAQ Section
Q: How much bitcoin does KULR now hold in total?
A: KULR now holds 920 BTC in its corporate treasury.
Q: What was the average purchase price for the recent acquisition?
A: The recent 118.6 BTC were acquired at an average price of $107,861 per bitcoin.
Q: What is the total value of KULR’s bitcoin investment?
A: KULR’s total bitcoin investment amounts to approximately $91 million.
