This Company Just Filed to Raise $300 Million for Bitcoin Purchases

TLDR

KULR Technology plans to raise $300 million through stock sales to buy more Bitcoin for its corporate treasury The company currently holds 920 Bitcoin worth approximately $99.6 million as of Monday MicroStrategy purchased another 1,045 Bitcoin for $110.2 million, bringing total holdings to 582,000 BTC worth over $40 billion KULR joined the “Bitcoin for Corporations” initiative led by MicroStrategy and Bitcoin Magazine Over 227 entities now hold Bitcoin as corporate treasury assets, up 11% in the past month

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KULR Technology Group filed with federal regulators Monday to raise $300 million through stock sales. The California-based company plans to use the funds to purchase more Bitcoin for its corporate treasury.

The move makes KULR the latest public company to follow MicroStrategy’s Bitcoin accumulation strategy. KULR currently holds 920 Bitcoin worth approximately $99.6 million at current prices.

“We’re building a long-term accumulation flywheel designed to steadily grow BTC per share over time,” KULR CEO Michael Mo said in a statement. The company described itself as “undeterred by short-term market volatility.”

KULR will sell common stock shares through an at-the-market offering with assistance from Cantor Fitzgerald. The funds will boost Bitcoin holdings and provide working capital for operations.

Following the announcement, KULR shares traded at $1.20, up 2% for the day. The stock has gained 277% over the past year, outperforming the broader market’s 12.4% return.

The company operates in thermal management and energy storage solutions. Its partners include NASA, SpaceX, Toyota, Amazon, and the U.S. Military.

KULR adopted Bitcoin as its primary reserve asset in late 2024. The company expands its Bitcoin position through both mining operations and direct market purchases.

MicroStrategy Continues Bitcoin Buying Spree

MicroStrategy announced another Bitcoin purchase on June 9, adding 1,045 Bitcoin for approximately $110.2 million. The purchase brought the company’s total holdings to 582,000 BTC worth over $40 billion.

Strategy has acquired 1,045 BTC for ~$110.2 million at ~$105,426 per bitcoin and has achieved BTC Yield of 17.1% YTD 2025. As of 6/8/2025, we hodl 582,000 $BTC acquired for ~$40.79 billion at ~$70,086 per bitcoin. $MSTR $STRK $STRF $STRDhttps://t.co/blyWfRskjE

— Strategy (@Strategy) June 9, 2025

MicroStrategy paid an average price of $105,426 per Bitcoin in the latest transaction. The company has achieved a 17.1% Bitcoin yield year-to-date in 2025.

The software firm has accumulated its massive Bitcoin position for a total cost basis of approximately $40.79 billion. This represents an average purchase price of $70,086 per Bitcoin.

Corporate Bitcoin Adoption Grows

KULR also joined the “Bitcoin for Corporations” initiative on Monday. The program, led by MicroStrategy and Bitcoin Magazine, promotes institutional Bitcoin adoption.

As an executive member, KULR will help promote Bitcoin integration into corporate treasuries. The initiative provides institutional-grade tools and peer support networks.

Over 227 entities now hold Bitcoin as corporate treasury assets, according to Bitcointreasuries.net. This represents an 11% increase over the past month.

These entities hold a combined $177 billion in Bitcoin. MicroStrategy’s holdings account for roughly one-third of this total at $63 billion.

Bitcoin (BTC) Price

Bitcoin traded at $108,600 on Monday, up 2.2% in 24 hours. The cryptocurrency remains about 4% below its all-time high of $112,000 reached on May 22.

Other companies following similar Bitcoin treasury strategies include SolarBank, The Blockchain Group, Treasure Global, and Davis Commodities. Japan’s Metaplanet recently announced plans to raise $5.3 billion to accumulate over 210,000 Bitcoin by 2027.

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