KULR Technology Group (KULR) has arranged a $20 million multi-draw credit facility with Coinbase Credit, secured by its bitcoin holdings, marking the company’s first non-dilutive financing specifically for its rapidly growing BTC treasury.
Under the agreement, KULR can draw up to $20 million against a portion of its bitcoin reserve at interest. Any credit will be earmarked for further strategic bitcoin accumulation.
This facility follows KULR’s December 2024 launch of its bitcoin treasury strategy, which has so far guided purchases totaling over $91 million in BTC.
Since December, KULR has brought its total holdings to 920 BTC, with an average cost basis of $98,760 per bitcoin.
KULR, known for its battery thermal runaway protection systems and aerospace-grade energy storage, has committed up to 90% of excess cash flow to bitcoin purchases.
At time of publication, KULR is up 3.8% pre-market.
