KULR Technology Group, Inc., a prominent player in advanced energy management platforms, has made another Bitcoin (BTC) purchase to bolster its treasury.
Technology company KULR Group, Inc. has purchased an additional $10 million in Bitcoin to add to its treasury holdings, according to a company press release on February 11. The company now holds a total of 610.3 Bitcoin.
The recent purchase was made at a weighted average price of $103,905 per unit, inclusive of all associated fees and expenses. As of February 11, the company's total BTC holdings were valued at approximately $60 million.
KULR’s Board of Directors recognized Bitcoin as a primary treasury asset on December 4, 2024, with a plan to allocate up to 90% of surplus cash toward acquiring the cryptocurrency.
Highlighting the broader trend of corporate interest in Bitcoin, 20 companies increased their Bitcoin treasury holdings just this past week, according to data from HODL15Capital. As of February 10, the top 70 companies collectively held 635,657 BTC, with Marathon Digital and MicroStrategy, Inc. leading the pack.
In related news, Tokyo-listed mobile game studio Gumi Inc. announced plans to acquire Bitcoin worth 1 billion Japanese yen (around $6.58 million). The company's planned purchase period spans from February to May of this year.
Bitcoin's price currently stood at $97,250, with no significant price fluctuations over the past 24 hours. The broader cryptocurrency market has seen a modest growth, with a 0.20% increase in market capitalization, which was last recorded at $3.19 trillion.
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