KULR Expands Bitcoin Treasury to $78M, Reports 220% YTD Upside

KULR Technology Group, Inc. has expanded its Bitcoin (BTC) holdings with a fresh $9 million allocation, raising its total investment in the asset to $78 million. The latest purchase was made at an average price of $103,234 per BTC, increasing the firm’s total stash to 800.3 BTC.

$KULR has acquired 83.3 BTC for ~ 9 million To learn more about our acquistion and our Bitcoin Treasury Strategy, check out today’s press release.https://t.co/vuQk90DCgh pic.twitter.com/KrW3E4e700

— KULR Technology (@KULRTech) May 20, 2025

The addition follows the company’s December 2024 decision to commit up to 90% of its surplus cash to Bitcoin. According to KULR, its Bitcoin yield for the year has reached 220.2%, a metric the company uses to measure growth in BTC per fully diluted share.

KULR’s Q1 Performance and Bitcoin Strategy

While KULR continues to expand its Bitcoin treasury, its core operations encountered notable challenges in Q1 2025. The firm reported $2.45 million in revenue, a 40% increase largely driven by $1.16 million in product sales. Despite the revenue boost, gross margin dropped to 8%, and total cash and accounts receivable stood at $27.59 million.

Rising operating costs added pressure, with SG&A expenses reaching $7.2 million and R&D spending at $2.45 million. These factors led to an operating loss of $9.44 million. A further hit came from a mark-to-market adjustment on its BTC holdings, pushing the net loss to $18.81 million.

Despite these setbacks, KULR remains financially positioned with over $100 million in combined cash and Bitcoin holdings and minimal debt. The company aims to scale its battery and AI robotics segments while continuing its aggressive Bitcoin-focused treasury approach.

Bitcoin Gains Corporate Ground

In addition to KULR, Metaplanet is another firm actively expanding its Bitcoin holdings. The Tokyo-listed company purchased 1,004 BTC on May 19 for approximately $104.3 million, paying an average price of $103,873 per coin.

Just a week earlier, it had acquired 1,241 BTC for about $129 million at an average price of $100,968 per coin. Year-to-date, Metaplanet reports a Bitcoin yield of 189.1%.

Similarly, Michael Saylor’s multi-billion-dollar business intelligence firm, Strategy, recently announced another large BTC purchase. According to a CoinTab report, the company acquired 7,390 BTC. As of May 19, Strategy remains the largest corporate holder of Bitcoin, with a total of 576,230 BTC valued at approximately $40.18 billion.

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