KULR Technology Makes $21M Bitcoin Investment, Driving Stock to Record High

The energy storage company allocates up to 90% of surplus cash to Bitcoin, signaling a strategic pivot towards digital assets.

KULR Technology Group purchased 217.18 Bitcoin for $21 million at an average price of $96,556 per Bitcoin.
The investment is part of KULR's new 'Bitcoin Treasury' strategy, which plans to allocate up to 90% of the company's surplus cash to Bitcoin.
KULR's stock surged over 40%, closing at $4.80, marking an all-time high for the company.
The move comes as Bitcoin prices climb following Donald Trump's reelection and his pro-crypto policies aimed at making the U.S. a global cryptocurrency leader.
KULR partnered with Coinbase Prime for custody and wallet services, marking the first in a series of planned Bitcoin purchases under this strategy.