KULR (KULR) a leader in advanced energy management has acquired an additional $5 million worth of bitcoin (BTC), bringing its total bitcoin treasury holdings to $65 million, the company announced on Tuesday.
The latest purchase was made at an average price of $88,824 per bitcoin, increasing the company’s total holdings to 668.3 BTC. 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.
Year to date, KULR has achieved a bitcoin yield of 181.1%, 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 ofbBitcoin 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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