KULR, Genius Group expand Bitcoin holdings
KULR Technology Group and Genius Group Limited, two publicly traded companies, announced a significant increase in their Bitcoin holdings as part of their treasury strategies.
KULR Technology Group, headquartered in Houston, increased its Bitcoin (BTC) cash at 510 BTC with an additional purchase of $8 million.
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 decision aligns with KULR’s December 2024 decision strategy to allocate up to 90% of its excess cash reserves in Bitcoin. The company has achieved a Bitcoin return of 127% year-to-date, using this metric to measure performance against its shares outstanding.
Engineering Group
Meanwhile, Singapore-based Genius Group increased its Bitcoin treasury to 420 BTC after a $5 million purchase at an average price of $95,912 per Bitcoin.
In three months, Genius Group accumulated $40 million in Bitcoin as part of its “Bitcoin-first” strategywhich commits at least 90% of its reserves to cryptocurrency.
The company plans to eventually hold $120 million in Bitcoin, funded by reserves, an ATM, and $19 million in cryptocurrency-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.
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