TechFlow reported on January 21, according to Coindesk, energy management system manufacturer KULR announced the purchase of $8 million worth of bitcoin, bringing its total holdings to 510 BTC. The weighted average price for this purchase was $101,695, approximately 79 bitcoins, and the company's total investment in bitcoin has now reached $50 million.
The company stated that its bitcoin holdings have yielded a return of 127% year-to-date. Since announcing its bitcoin investment strategy on December 4, KULR's stock listed on the NYSE has risen by 90%, while the price of bitcoin has increased by 7%.
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