KULR Technology Completes Bitcoin Liquidation, Exits Crypto Strategy

KULR Technology Group has finalized the sale of its remaining 764 Bitcoin for approximately $58.6 million, marking the end of its two-year venture into cryptocurrency. The transactions occurred between August 20 and September 11, 2026, at a weighted average price of about $76,633 per Bitcoin, bringing the company's total Bitcoin holdings to zero.

This liquidation follows an earlier sale in July 2026, where KULR sold around 333 Bitcoin for about $21.5 million at an average price of $64,538 per coin. The proceeds from that sale were primarily used to pay off a $20 million credit facility with Coinbase, which had been secured against KULR's Bitcoin assets. The company’s decision to exit its crypto strategy reflects a shift in focus back to its core operations in battery safety and thermal management technology, which serves industries such as aerospace, defense, and electric vehicles.

KULR's foray into Bitcoin began in late 2024, inspired by other public companies that converted treasury cash into cryptocurrency. At its peak, KULR's holdings exceeded 1,000 Bitcoin, accumulated through direct purchases and mining operations. However, the volatility of Bitcoin's price significantly impacted the company's balance sheet, prompting leadership to prioritize risk management by liquidating its holdings.

With the recent sale, KULR has gained fresh liquidity to reinvest in its primary business activities. Additionally, the company announced a grant of 200,000 time-based Restricted Stock Units to CFO Michael Kimel, which will vest over four years starting September 10, 2026. Specific plans for the use of the proceeds from the Bitcoin sale have not yet been disclosed.

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Source: KLEA News