5 days ago
Energy-management steadfast KULR (KULR) is looking to rise up to $300 cardinal by selling shares of its communal banal successful an at-the-market (ATM) offering facilitated by Cantor Fitzgerald.
The funds volition beryllium utilized for wide firm purposes, including moving superior and the acquisition of much bitcoin BTC, the institution said successful an SEC filing.
California-based KULR began utilizing bitcoin arsenic its superior treasury reserve plus successful precocious 2024, adopting a strategy akin to that of Strategy (MSTR). It presently holds 800 BTC, according to BitcoinTreasuries data.
Many companies looking to physique up their bitcoin treasury holdings person turned to at-the-market programs money the purchases. These see Strategy, which besides included preferred banal ATM programs, arsenic good arsenic The Blockchain Group, MARA Holdings and Semler Scientific.
To enactment its accumulation efforts, KULR besides leased 5,500 S-19 bitcoin miners successful 2 agreements totaling implicit $4 million, according to the filing.
So far, the institution has earned astir 10 BTC from these operations. It has purchased hundreds much connected the unfastened marketplace done Coinbase, adding successful 449.45 BTC successful the 3 months ending connected March 31, and an further 244.36 BTC since.
KULR’s shares person gained 3.4% contiguous to $1.22.
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