KULR (KULR) a leader in advanced energy management has acquired an additional $5 million worth of bitcoin (BTC).
The latest purchase was made at an average price of $88,824 per bitcoin, increasing the company’s total holdings to 668.3 BTC, per the announcement from CEO Michael Mo. This move is in line with KULR’s bitcoin treasury strategy, first announced in December, which allows for up to 90% of its surplus cash reserves to be held in bitcoin.
The company stack was purchased for about $65 million, or an average price of $97,305 per token. It’s worth just above $58 million at bitcoin’s current price in the $87,000 area.
Year to date, KULR has achieved a bitcoin yield of 181.1%, according to Mo, utilizing a mix of cash and its at-the-market (ATM) equity program to fund acquisitions. The bitcoin yield is a key performance indicator (KPI) for the company, calculated by assessing the percentage change period over period in the ratio of bitcoin holdings to KULR’s assumed fully diluted shares outstanding. This metric reflects the company’s efficiency in increasing BTC exposure relative to shareholder dilution.
KULR stock is trading 3.5% higher in the pre-market session.
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