KURL Technology Group Bolsters Bitcoin Holdings with $10 Million Purchase
KURL Technology Group has increased its Bitcoin treasury by $10 million, reaffirming its strategy to accumulate the world’s top cryptocurrency as a reserve asset. The company acquired 100 Bitcoin (BTC) for $10 million, with each coin averaging $103,905.
This latest acquisition brings KURL’s total Bitcoin holdings to approximately 610 BTC, valued at $60 million. The energy company’s CEO and co-founder, Michael Mo, announced the purchase, highlighting the company’s commitment to allocating 90% of its excess cash reserves toward BTC acquisitions.
KURL’s Bitcoin Strategy
KURL began accumulating Bitcoin in December with a $21 million purchase. The company funds its Bitcoin strategy through equity sales via an at-the-market offering, an accounting approach popularized by MicroStrategy to finance large Bitcoin purchases.
KURL has introduced a new performance metric called BTC Yield, which measures the percentage difference between outstanding diluted shares and the company’s BTC holdings. According to Mo, KURL’s BTC Yield has reached 167.3% year-to-date, delivering additional gains for shareholders and attracting more investors to participate in the company’s ATM program.
“We have acquired 100 BTC for approximately $10 million at approximately $103,905 per Bitcoin and have achieved a BTC Yield of 167% YTD. As of February 10, 2025, we hold 610 BTC acquired for approximately $60 million at approximately $98,312 per Bitcoin.” – Michael Mo
Tips for Investors
For investors interested in BTC acquisitions and Bitcoin strategies, consider the following:
- Keep a close eye on Bitcoin prices and market trends.
- Understand the company’s Bitcoin strategy and its potential impact on share prices.
- Research the company’s use of at-the-market offerings and its implications for investors.
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