In a world where fortunes are made and lost with the flick of a digital switch, KURL Technology Group has boldly stepped into the fray, investing a staggering $10 million to bolster its Bitcoin treasury. Ah, the sweet scent of cryptocurrency! It seems they have decided that the world’s most coveted digital coin is the perfect reserve asset—because who needs gold when you can have Bitcoin, right? 💰
With the precision of a seasoned gambler, KURL has acquired 100 Bitcoin (BTC) at an average price of $103,905 per coin. This revelation came straight from the mouth of their CEO and co-founder, Michael Mo, who must be feeling quite pleased with himself. After all, who wouldn’t want to be the captain of a ship sailing through the turbulent seas of cryptocurrency? 🚢
As the Bitcoin market dances below the $99,000 mark, KURL’s total holdings have swelled to approximately 610 BTC, now valued at a cool $60 million. It’s almost as if they’re playing Monopoly, but instead of paper money, they’re stacking digital coins. One can only imagine the boardroom discussions: “Let’s just throw more money at it! What could possibly go wrong?”
Since December, this energy company has been on a Bitcoin buying spree, starting with a $21 million purchase. They’ve committed to funneling 90% of their excess cash reserves into BTC acquisitions. It’s a bold strategy, Cotton! Let’s see if it pays off. And how do they fund this digital treasure hunt? Through equity sales via an at-the-market offering, a clever little trick borrowed from the playbook of MicroStrategy. Because why not? If it worked for them, it must be a good idea! 📈
In a twist of corporate ingenuity, KURL has introduced a new performance metric dubbed BTC Yield. This delightful little number measures the percentage difference between outstanding diluted shares and the company’s BTC holdings. It’s like a math problem that only the bravest of souls would dare to solve. 🧮
According to the ever-optimistic Mo, KURL’s BTC Yield has soared to an impressive 167.3% year-to-date. This figure not only brings joy to shareholders but also attracts a flock of eager investors to their ATM program. Because who wouldn’t want to join a party where the drinks are digital and the stakes are high? 🍸
KULR has acquired 100 BTC for ~ 10 million at ~ $103,905 per #bitcoin and has achieved BTC Yield of 167% YTD. As of 2/10/25, we hodl 610 $BTC acquired for ~ $60 million at ~ $98,312 per bitcoin. $KULR
— Michael Mo (@michaelmokulr) February 11, 2025
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2025-02-11 21:15