Power-management agency KULR (KULR) is trying to increase as much as $300 million by promoting shares of its widespread inventory in an at-the-market (ATM) providing facilitated by Cantor Fitzgerald.
The funds might be used for common company functions, together with working capital and the acquisition of extra bitcoin
, the corporate stated in an SEC submitting.
California-based KULR started utilizing bitcoin as its major treasury reserve asset in late 2024, adopting a method just like that of Technique (MSTR). It at present holds 800 BTC, in line with BitcoinTreasuries knowledge.
Many firms trying to construct up their bitcoin treasury holdings have turned to at-the-market packages fund the purchases. These embrace Technique, which additionally included most popular inventory ATM packages, in addition to The Blockchain Group, MARA Holdings and Semler Scientific.
To assist its accumulation efforts, KULR additionally leased 5,500 S-19 bitcoin miners in two agreements totaling over $4 million, in line with the submitting.
To this point, the corporate has earned practically 10 BTC from these operations. It has bought lots of extra on the open market by means of Coinbase, including in 449.45 BTC within the three months ending on March 31, and a further 244.36 BTC since.
KULR’s shares have gained 3.4% right now to $1.22.
