Simply put
- Kulr is aiming to raise $300 million in a new funding effort, part of which will support its Bitcoin strategy.
- The company currently holds 920 Bitcoin, valued at nearly $100 million.
- Kulr is among several public companies adopting this growing trend.
Kulr Technology Group is looking to gather $300 million to enhance its Bitcoin Treasury Department, as stated in a recent filing with federal regulators in the U.S.
Based in California, Kulr aspires to be recognized as a “Bitcoin First” organization. With the backing of Cantor Fitzgerald, the company plans to raise this amount through common stock offerings. The funds will help bolster working capital and expand Bitcoin holdings for its Corporate Treasury, a division started last year.
“We’re focused on building a long-term accumulation strategy,” Kulr’s CEO, Michael Mo, said in a statement, adding that the company is “not affected by short-term market fluctuations.”
After this announcement, Kulr shares went up to $1.20, reflecting a 2% rise over the previous day.
The firm owns 920 Bitcoin, valued at approximately $99.6 million based on the latest data, which can be found on Coingecko.
Kulr’s push to grow its Bitcoin assets is driven partly by the digital currency’s recent valuation, which is about 4% below its previous peak of $112,000.
Currently, Bitcoin is trading around $108,600, which marks a 2.2% increase in just the last 24 hours. This uptick has spurred many public and private companies to start incorporating cryptocurrencies into their balance sheets, emulating the strategy set by Michael Saylor’s software company.
As per reports, more than sixty public companies, alongside over a dozen private firms, now have Bitcoin in their assets. Several organizations have recently announced plans to establish Bitcoin financing. For instance, SolarBank and Treasure Global are among those adopting this Bitcoin-focused approach lately.
In total, there are 227 entities holding Bitcoin, which collectively amounts to $177 billion. Around one-third of that—about $63 billion—is attributed to companies deploying this strategy.
Kulr’s salary increase announcement coincides with its involvement in the “Bitcoin for Businesses” initiative, which aims to facilitate the institutional adoption of Bitcoin.
As a member of this initiative, KULR plans to contribute towards integrating publicly traded companies with the Ministry of Finance using institutional-grade tools and collaborative support networks.
Corrected: (June 9, 2025, 5:27pm): The total amount of Bitcoin has been updated to $99.6 million.
Edited by James Rubin
