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Company’s BTC Trove Surges to 716.2 Coins
By: bitcoin ethereum news|2025/05/07 08:45:01
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KULR Technology Group has achieved a BTC Yield of 197.5 percent YTD following its relentless acquisitions. Bitcoin price has gained significant bullish momentum in the past few weeks with $100k in sight. KULR Technology Group, Inc. (NYSE: KULR), a Texas-based company focused on developing and commercializing advanced thermal management, announced that it acquired 42 Bitcoins worth about $4 million on Tuesday, May 6, 2025. According to the announcement, KULR Technology increased its Bitcoin holding to 716.2 BTC, currently worth about $67.8 million as BTC hovers below $95k. Consequently, KULR Technology achieved a BTC Yield of 197.5 percent year-to-date (YTD). The company’s continued adoption of Bitcoin as a treasury management asset has helped attract more investors. Last week, Grayscale Investment announced the inclusion of KULR stock in its Bitcoin Adopters ETF. Moreover, Michael Mo, the company’s CEO and co-founder, previously stated that KULR Technology is committed to investing 90 percent of its surplus cash in Bitcoin. Impact of KULR Technology’s Bitcoin Strategy KULR Technology has gradually followed in the footsteps of Strategy, which has acquired more than 2 percent of the total supply of Bitcoin. Worth noting that KULR Technology is among the 192 global entities that hold more than 3.29 million Bitcoin in their treasuries. With nation states – led by El Salvador and the United States – following in the same trend of adopting Bitcoin as a hedge against inflation, it is safe to assume a parabolic rally for BTC price is on the horizon. Furthermore, the supply of BTC is significantly less compared to the demand, especially from institutional investors. For instance, the U.S. spot BTC ETTs recorded a net cash inflow of about $425 million on May 5, heavily outstripping the daily supply from BTC miners. Source: https://coinpedia.org/news/kulr-technology-buys-additional-42-bitcoin-worth-4m-companys-btc-trove-surges-to-716-2-coins/
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