In a latest development, KULR, a leading energy-management systems provider, has made an exciting move by investing $8 million in Bitcoin, boosting its holdings to 510 tokens. With Bitcoin priced at an average of $101,695, the company’s total investment now stands at a remarkable $50 million!
The purchase comes after the Houston-based company announced on December 4 that it would invest some of its excess cash in Bitcoin, as more public companies adopt Bitcoin as part of their treasury.
Notably, the company reported a 127% bitcoin yield this year. Since announcing its investment strategy, the company’s NYSE-listed shares have surged 90%, while Bitcoin has risen by 7%.
