KULR Know-how Group, Inc. has disclosed the acquisition of 217.18 Bitcoin, amounting to roughly $21 million. The typical acquisition worth was reported as $96,556.53 per Bitcoin.
KULR Launches Bitcoin Treasury with Buy of 217.18 Bitcoin for $21 Million.
Watch now and take a look at our press launch for extra info: https://t.co/GClCvKTjUH pic.twitter.com/BmUWYXzMuY
— KULR Know-how (@KULRTech) December 26, 2024
This transaction is a part of the corporate’s Bitcoin Treasury technique, introduced on December 4th, which plans to allocate as much as 90% of KULR’s surplus money to Bitcoin.
The corporate described this as the primary in a collection of deliberate Bitcoin purchases.
To handle its Bitcoin holdings, KULR is using Coinbase Prime for custody and self-custodial pockets companies.
In associated information, KULR has regained compliance with NYSE American’s stockholder fairness requirements after addressing a earlier non-compliance notification obtained in December 2023.
Following this improvement, the corporate’s inventory worth elevated by over 90% over the last 5 buying and selling days.
KULR’s resolution to spend money on Bitcoin aligns with its acknowledged treasury administration technique.
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