- KULR plans to raise up to $300M via an at-the-market stock offering to fund operations and Bitcoin purchases.
- The firm currently holds 920 BTC, has earned nearly 10 BTC through mining, and bought hundreds more via Coinbase.
- Following Strategy’s playbook, KULR is among several companies using stock sales to build a corporate Bitcoin treasury.
Energy tech firm KULR is ramping up its crypto game. The company filed to raise as much as $300 million through an at-the-market (ATM) offering, tapping Cantor Fitzgerald to help it sell shares of its common stock. And yep, they’re planning to use a chunk of that for more Bitcoin.
In its latest SEC filing, KULR said the funds would go toward general corporate stuff—working capital, operations, and acquiring additional BTC. The company already made headlines last year when it announced Bitcoin as its primary treasury reserve asset. Since then, it’s racked up 920 BTC.
Mining, Buying, and Stockpiling BTC
KULR’s approach is pretty aggressive for a company outside of crypto. They’ve signed two separate leasing deals to get their hands on 5,500 S-19 bitcoin miners, worth over $4 million total. Mining rewards have already brought in nearly 10 BTC, and that’s just one piece of their strategy.
The firm has also been buying BTC on the open market. In Q1 alone, they picked up 449.45 BTC via Coinbase and added another 244.36 BTC in recent weeks. All of this is fueling comparisons to Strategy (formerly MicroStrategy), which pioneered the treasury-to-Bitcoin model.
Joining the ATM Crowd
Using stock sales to fund Bitcoin buys isn’t new anymore—Strategy, MARA Holdings, Semler Scientific, and The Blockchain Group have all gone the same route. Still, KULR’s move signals how much the treasury Bitcoin narrative is catching on beyond just tech and crypto-native firms.
Shares of KULR climbed 3.4% on the day, trading at $1.22. Not a moonshot, but it seems the market’s listening.
