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KULR Technology Group, Inc. (NYSE American: KULR), a Bitcoin First Firm and international chief in sustainable vitality administration, announced that it has joined the Bitcoin for Corporations (BFC) initiative, an institutional platform by Technique and Bitcoin Journal to advertise company Bitcoin adoption.
The initiative is made to assist publicly traded firms in integrating Bitcoin into their company treasury methods and stability sheets. Taking part organizations acquire entry to institutional-grade instruments, frameworks, and peer networks that assist the accountable administration and enlargement of Bitcoin holdings. KULR’s function as an Government Member of BFC aligns with its technique to place Bitcoin as a long-term reserve asset.
“Our dedication to Bitcoin for Companies displays a powerful conviction in Bitcoin’s long-term worth as a financial asset,” CEO of KULR Michael Mo, commented. “As KULR continues to scale its Bitcoin treasury, we welcome the possibility to align with different establishments pioneering this shift in company treasury administration.”
KULR additionally has elevated its Bitcoin treasury by $13 million, bringing complete holdings to 920 BTC, at a mean acquisition value of $98,760 per bitcoin. The corporate’s complete Bitcoin funding now stands at $91 million. The most recent buy was made at a mean value of $107,861 per bitcoin. Yr to this point, KULR has delivered a 260% return on its Bitcoin holdings. They use a strategic combine of money reserves and its At-The-Market (ATM) fairness program to fund their acquisitions.
On July 25, 2024, on the 2024 Bitcoin Convention, Technique and Bitcoin Journal announced the launch of Bitcoin for Companies, a brand new initiative designed to assist firms combine Bitcoin into their treasury methods. This system gives company leaders with instructional assets, sensible instruments, and entry to a community of friends and specialists. It features a co-branded internet platform providing specialised content material, newsletters, and success tales, in addition to VIP entry to occasions.
“The ‘Bitcoin for Companies’ initiative is a big step in the direction of accelerating company Bitcoin adoption,” added Co-founder and former CEO of Technique Michael Saylor. “By combining our experience, assets and attain, together with Bitcoin Journal we goal to create a sturdy platform that educates and helps companies in implementing Bitcoin methods.”