KULR, Genius Group expand Bitcoin holdings
KULR Technology Group and Genius Group Limited, both publicly traded companies, have announced significant increases in their Bitcoin holdings as part of their treasury strategies.
KULR Technology Group, headquartered in Houston, has raised its Bitcoin (BTC) treasury to 510 BTC with an additional $8 million purchase.
The acquisitions, made at an average price of $101,695 per Bitcoin, bring the total value of KULR’s Bitcoin holdings to $50 million.
This move aligns with KULR’s December 2024 strategy to allocate up to 90% of its surplus cash reserves to Bitcoin. The company has achieved a year-to-date Bitcoin yield of 127%, using this metric to measure performance relative to its outstanding shares.
Genius Group
Meanwhile, Singapore-based Genius Group has increased its Bitcoin treasury to 420 BTC after a $5 million purchase at an average price of $95,912 per Bitcoin.
Over three months, Genius Group has accumulated $40 million in Bitcoin as part of its “Bitcoin-first” strategy, which commits at least 90% of its reserves to cryptocurrency.
The company plans to eventually hold $120 million in Bitcoin, funded through reserves, an ATM facility, and $19 million in crypto-backed loans from Arch Lending.
Both companies are positioning Bitcoin as a core asset in their financial strategies, signaling a broader trend of corporate adoption of digital currencies.
