KULR Technology Group, Inc. announced a $20 million bitcoin-backed credit facility from Coinbase Credit. This facility will help KULR access non-dilutive capital at competitive rates to support Bitcoin accumulation strategies. In 2024, KULR selected Coinbase Prime for managing its Bitcoin assets. Additionally, KULR entered a $300 million Common Stock Sale Agreement with Cantor Fitzgerald to bolster its Bitcoin treasury reserve. KULR acknowledges its Bitcoin holdings as long-term investments and remains flexible in its accumulation strategy based on market conditions.
This marks KULR's first bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate. It reflects our commitment to diversifying our funding sources.
In 2024, KULR chose Coinbase Prime to handle the storage and management of its Bitcoin assets, including custody, USDC, and self-custodial wallet services. Currently, Coinbase Prime is also the platform of choice for eight of the ten largest public companies holding Bitcoin.
We view our bitcoin holdings as long term holdings and expect to continue to accumulate bitcoin. We have not set any specific target for the amount of bitcoin we seek to hold.
KULR chose Coinbase Prime to handle the storage and management of its Bitcoin assets, which builds upon KULR's Bitcoin-focused financial strategy, enhancing the security and management of its assets.
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