CORP/BIZ KULR Launches Bitcoin Treasury with Purchase of 217.18 Bitcoin for $21 Million

alchemike

alchemike

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  1. KULR Launches Bitcoin Treasury with Purchase of 217.18 Bitcoin for $21 Million
HOUSTON / GLOBENEWSWIRE / December 26, 2024 / KULR Technology Group, Inc. (NYSE American: KULR) (the “Company” or “KULR”), a leader in advanced energy management platforms, today announced that it has completed the purchase of 217.18 Bitcoin (“BTC”) for approximately $21 million, at an average price of $96,556.53 per BTC.

The purchase follows the Company’s announcement on December 4th of its Bitcoin Treasury strategy in which it announced allocating up to 90% of its surplus cash to BTC. The $21 million of BTC purchased since the announcement is the first of ongoing purchases the Company intends to make going forward. KULR selected Coinbase’s (NASDAQ: COIN) Prime platform to provide custody, USDC, and self-custodial wallet services for its BTC.

For more information, visit www.kulrtechnology.com.
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About KULR Technology Group Inc.

KULR Technology Group Inc. (NYSE American: KULR) delivers cutting edge energy storage solutions for space, aerospace, and defense by leveraging a foundation of in-house battery design expertise, comprehensive cell and battery testing suite, and battery fabrication and production capabilities. The Company’s holistic offering allows delivery of commercial-off-the-shelf and custom next generation energy storage systems in rapid timelines for a fraction of the cost compared to traditional programs. For more information, please visit www.kulrtechnology.com.

Safe Harbor Statement  
This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on April 12, 2024, as may be amended or supplemented by other reports we file with the Securities and Exchange Commission from time to time. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. 
Investor Relations:
KULR Technology Group, Inc.
Phone: 858-866-8478 x 847
Email: ir@kulrtechnology.com
 
Going for Microstrategy 2.0, eh? Not a bad play these days.

I took out a flier on Bitcoin way back when. When it was about $4k per. I only have like 0.02 bitcoin, but these days, it's a lot more than it was!
 
Okay, let me get this straight. Bit coin, a non-physical currency backed by nothing, now is being protected by more non-physical currency backed by nothing. Hmmm. :rolleyes:

For the record, I agree that a digital currency is coming for this country regardless of its "nothingness" but I doubt it will be bitcoin. It will probably be a government "created" digital currency that they control and that isn't "mine-able" to create more and dilute their control.
 
I got in at $2500. a $100 here and $200 there whenever I had extra cash around. So I figure it was around 2014-15. My last buy in was $600 when the price was 17k. I'll never buy anymore because it just costs too much-theory of numbers and all that-but I don't need it for anything, so it just sits in its wallet. .88/100th of a coin so its substantial. And there it will stay until I retire.

I just hope I don't have a midlife crisis and decide that I need a Corvette.:cool:
 
Kathy in FL said:
Okay, let me get this straight. Bit coin, a non-physical currency backed by nothing, now is being protected by more non-physical currency backed by nothing. Hmmm. :rolleyes:

For the record, I agree that a digital currency is coming for this country regardless of its "nothingness" but I doubt it will be bitcoin. It will probably be a government "created" digital currency that they control and that isn't "mine-able" to create more and dilute their control.
Click to expand...
Close. Check out XRP and RLUSD.

Security and quick transactions are the value.
 
Kathy in FL said:
Okay, let me get this straight. Bit coin, a non-physical currency backed by nothing, now is being protected by more non-physical currency backed by nothing. Hmmm
Click to expand...

Sorry Kathy, but you do not understand what Bitcoin is...and it is far more than money.

Here the Mayor of Rockdale, Texas explains in a letter how "Bitcoin mining revived my rural community."

RockvilleMayorBTC.jpg
 
Like it or not, the Digital Age is here. Look what’s in your hand all the time.
At least until the lights go out…… :whistle:
 
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