KULR joins MicroStrategy to implement BTC financial strategy, with stock prices soaring nearly 5 times in a single month

Another US-listed company announced its BTC financial strategy. Battery energy storage company KULR Technology Group announced that it will allocate 90% of its surplus cash to BTC. KURL’s monthly stock price soared 498%.

What is KULR’s core business?

KULR Technology Group is a company that focuses on battery safety technology and thermal management. Headquartered in San Diego, California, USA. KULR’s technology has a wide range of applications, covering multiple industries from space satellite systems to residential energy storage and electric mobile devices. Their core technologies include thermal interface materials, lightweight heat exchangers, and lithium-ion battery thermal runaway propagation protection. The company also collaborated with NASA to develop vertically aligned carbon fiber thermal interface materials, which are lighter, more flexible, and more efficient.

KULR announces BTC Treasury Department strategy

KULR announced in early December that the board had agreed to use BTC as the primary asset for its financial plan. With cash on the balance sheet currently exceeding $12 million, and any future cash surplus will be dedicated to allocating 90% to BTC.

Does KULR make money in its core business?

In KULR’s latest quarterly financial report, it reported a loss of approximately $2 million in the third quarter and a year-to-date loss of $12.9 million. The cash on the balance sheet is only $910,000, and the total assets are only $12.35 million. There is no mention of having more than $12 million in cash on hand (perhaps a significant increase in revenue in the fourth quarter?).

KURL monthly stock price soared 498%

Due to KULR’s continued losses, the stock price has been below $1 for a long time, but it has skyrocketed since the end of November, with a 498% increase in stock price in one month. Even Bloomberg analyst James Seyffart exclaimed at the astonishing performance!

This article KULR joins MicroStrategy to implement BTC financial strategy, and the stock price has surged nearly 5 times in a single month, first appeared on Chain News ABMedia.