KULR Technology Group sold 333 Bitcoins between July 9 and July 23, raising about $21.5 million to fully pay off its $20 million credit line from Coinbase Credit ahead of its August 2026 maturity. This move reduces the company's debt burden while retaining 760 BTC in its treasury.
The average selling price hovered around $64,538 per Bitcoin, substantially lower than KULR's weighted acquisition cost of roughly $108,884 per BTC. Despite realizing an estimated $14.8 million loss on the sold coins, the company prioritized debt elimination over timing the market.
From rapid accumulation to strategic scale-back
KULR began buying Bitcoin in December 2024, initially acquiring 217.18 BTC for $21 million. Their approach was aggressive: directing up to 90% of surplus cash into Bitcoin purchases. Holdings swelled past 1,000 BTC by mid-2025 and peaked at 1,083 BTC in March 2026. The company also used a $20 million Coinbase credit facility, secured by 565 BTC as collateral, to accelerate accumulation.
With the debt now settled, the 565 BTC collateral is expected to be released back into the company’s treasury. KULR's core business focuses on energy management and battery safety technologies, making its Bitcoin holdings a strategic side investment rather than a primary income source.
Paying down the loan removes debt service risks and clears the balance sheet, allowing KULR to benefit from any future Bitcoin price appreciation on their remaining holdings without financial encumbrance.
