KULR (KULR) Announces Bitcoin Treasury Strategy

KULR Technology Group, Inc. (NYSE American: KULR) today announced its Board of Directors has agreed to include bitcoin (“BTC”) as a primary asset in its treasury program. With over $12 million cash on the balance sheet today and with any future cash surplus, KULR is committed to allocating up to 90% of its surplus cash to BTC.

KULR's acquisition of bitcoin will be guided by market dynamics and anticipated cash flow requirements. The Company remains adaptable, with the ability to modify its approach based on evolving circumstances and strategic considerations.

KULR Chairman and CEO Michael Mo highlighted, "We believe the growing global acceptance of bitcoin is still in its early stages. Companies, financial institutions, governments, and the capital markets are recognizing and incorporating block chain technology, and specifically, BTC into their overall economic toolkits. Given the unique characteristics of BTC, it provides long term appreciation and a bulwark against geopolitical, inflationary, and other macro-economic and political trends affecting all developed economies. Given our improved balance sheet, including increased cash balances, I am confident that a bitcoin treasury strategy will strengthen KULR's financial position as we work to expand operations and manage our financial capital responsibly by adding an independent treasury reserve.”

The acceptance of bitcoin as an asset has gained traction at the US federal governmental level this year. Senator Cynthia Lummis (R-Wyoming) introduced a proposal for a national strategic bitcoin reserve, and President-Elect Trump recently highlighted the possibility of establishing a national bitcoin stockpile.

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