KULR Technology Plans to Raise Up to $300 Million to Expand Bitcoin (BTC) Purchases

JH Kim

Summary

KULR Technology announced plans to raise up to $300 million to purchase Bitcoin (BTC).
This fundraising will be carried out through an At-The-Market (ATM) offering, and the company stated that it continues its strategy to expand Bitcoin holdings.
The funds raised will be used not only for additional Bitcoin purchases, but also for working capital and research and development (R&D).

On the 9th (local time), according to cryptocurrency-specialized media CoinDesk, KULR Technology, a company listed on the New York Stock Exchange in the United States, is set to raise up to $300 million in funds to purchase Bitcoin (BTC). This fundraising will be conducted through a common stock sale by means of an 'At-The-Market' (ATM) offering via Cantor Fitzgerald.

Headquartered in California, KULR has adopted Bitcoin as its primary treasury reserve asset since the end of 2024, following a strategy similar to MicroStrategy's.

Currently, KULR holds 800 BTC.

KULR also leased a total of 5,500 S-19 Bitcoin miners through two contracts for $4 million, in order to expand its Bitcoin holdings.

Through these mining operations, the company has mined approximately 10 BTC so far.

In addition, by purchasing through Coinbase, KULR acquired an additional 449.45 BTC as of the end of Q1 (March 31) this year, and subsequently purchased another 244.36 BTC.

The raised funds will be used not only for increasing Bitcoin holdings, but also to cover working capital and research and development (R&D) expenses.

Meanwhile, besides KULR, multiple companies such as MicroStrategy, The Blockchain Group, MARA Holdings, and Semler Scientific, are also securing funds through ATM offerings to strengthen their Bitcoin holding strategies.

BTC