In December 2024, KULR Technology Group, Inc. (NYSE American: KULR) announced the purchase of 217.18 Bitcoin for approximately $21 million, at an average price of $96,556.53 per BTC. This move aligns with the company's Bitcoin Treasury strategy, allocating up to 90% of its surplus cash to BTC. The purchase was facilitated through Coinbase’s Prime platform, which provides custody, USDC, and self-custodial wallet services for its BTC holdings. Other tech companies, such as Hut 8 Corp. and MARA Holdings, Inc., have also made significant Bitcoin acquisitions, reflecting a growing trend of institutional adoption of the cryptocurrency.
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