KULR Announces Bitcoin Treasury Strategy
KULR Technology Group (NYSE American: KULR) has announced its Board's decision to incorporate bitcoin (BTC) as a primary asset in its treasury program. With over $12 million in current cash reserves, the company plans to allocate up to 90% of its surplus cash to BTC investments. The strategy will be implemented based on market conditions and cash flow requirements, maintaining flexibility for adjustments as needed.
CEO Michael Mo emphasized that bitcoin's global acceptance is in early stages, citing its potential as a hedge against geopolitical, inflationary, and macro-economic trends. The company views this treasury strategy as a means to strengthen its financial position while expanding operations.
KULR Technology Group (NYSE American: KULR) ha annunciato la decisione del suo Consiglio di incorporare bitcoin (BTC) come risorsa principale nel suo programma di tesoreria. Con oltre 12 milioni di dollari di riserve liquide attuali, l'azienda prevede di destinare fino al 90% del suo surplus di cassa agli investimenti in BTC. La strategia sarà attuata in base alle condizioni di mercato e alle esigenze di flusso di cassa, mantenendo una flessibilità per eventuali aggiustamenti.
Il CEO Michael Mo ha sottolineato che l'accettazione globale del bitcoin è nelle fasi iniziali, citando il suo potenziale come copertura contro tendenze geopolitiche, inflazionistiche e macroeconomiche. L'azienda considera questa strategia di tesoreria come un mezzo per rafforzare la propria posizione finanziaria mentre espande le operazioni.
KULR Technology Group (NYSE American: KULR) ha anunciado la decisión de su Junta de incorporar bitcoin (BTC) como activo principal en su programa de tesorería. Con más de 12 millones de dólares en reservas de efectivo actuales, la compañía planea destinar hasta el 90% de su efectivo sobrante a inversiones en BTC. La estrategia se implementará en función de las condiciones del mercado y los requisitos de flujo de efectivo, manteniendo flexibilidad para ajustes según sea necesario.
El CEO Michael Mo enfatizó que la aceptación global del bitcoin se encuentra en etapas iniciales, citando su potencial como un resguardo contra tendencias geopolíticas, inflacionarias y macroeconómicas. La empresa ve esta estrategia de tesorería como un medio para fortalecer su posición financiera mientras expande sus operaciones.
KULR Technology Group (NYSE American: KULR)는 비트코인 (BTC)을 재무 프로그램의 주요 자산으로 통합하기로 한 이사회의 결정을 발표했습니다. 현재 1,200만 달러 이상의 현금 보유고를 가진 이 회사는 잉여 현금의 최대 90%를 BTC 투자에 배정할 계획입니다. 이 전략은 시장 상황과 현금 흐름 요구에 따라 시행되며, 필요에 따라 조정할 수 있는 유연성을 유지할 것입니다.
CEO Michael Mo는 비트코인의 글로벌 수용이 초기 단계에 있다고 강조하며, 지정학적, 인플레이션, 거시 경제적 트렌드에 대한 헤지 수단으로서의 잠재력을 언급했습니다. 이 회사는 이 재무 전략을 재정적 입지를 강화하고 운영을 확장하는 수단으로 보고 있습니다.
KULR Technology Group (NYSE American: KULR) a annoncé la décision de son conseil d'administration d'incorporer bitcoin (BTC) en tant qu'actif principal dans son programme de trésorerie. Avec plus de 12 millions de dollars de réserves de liquidités actuelles, l'entreprise prévoit d'allouer jusqu'à 90% de son excédent de trésorerie à des investissements en BTC. La stratégie sera mise en œuvre en fonction des conditions du marché et des besoins en flux de trésorerie, tout en maintenant une flexibilité pour des ajustements si nécessaire.
Le PDG Michael Mo a souligné que l'acceptation mondiale du bitcoin en est encore à ses débuts, évoquant son potentiel en tant que couverture contre des tendances géopolitiques, inflationnistes et macroéconomiques. L'entreprise considère cette stratégie de trésorerie comme un moyen de renforcer sa position financière tout en développant ses opérations.
KULR Technology Group (NYSE American: KULR) hat die Entscheidung seines Vorstands bekannt gegeben, Bitcoin (BTC) als primäres Asset in sein Tresorprogramm zu integrieren. Mit über 12 Millionen Dollar an aktuellen Barreserven plant das Unternehmen, bis zu 90% seines überschüssigen Geldes in BTC-Investitionen zu investieren. Die Strategie wird basierend auf den Marktbedingungen und den Anforderungen des Cashflows umgesetzt und erlaubt Flexibilität für Anpassungen, wie nötig.
CEO Michael Mo betonte, dass die globale Akzeptanz von Bitcoin in den Anfangsstadien ist und verwies auf das Potenzial, als Absicherung gegen geopolitische, inflationäre und makroökonomische Trends zu fungieren. Das Unternehmen sieht diese Tresorstrategie als Mittel zur Stärkung seiner finanziellen Position, während es die Geschäftstätigkeiten ausweitet.
- Strong cash position with over $12 million on balance sheet
- Strategic diversification of treasury assets through bitcoin investment
- High risk exposure with up to 90% of surplus cash allocated to volatile cryptocurrency
- Potential impact on operational liquidity due to significant bitcoin allocation
Insights
KULR's bold move to allocate up to
The timing aligns with increasing institutional acceptance of Bitcoin, but investors should note this represents a departure from traditional treasury management practices. This strategy could either significantly enhance or impair KULR's financial position depending on Bitcoin's performance. The lack of specific details about implementation timeframes and risk management protocols raises concerns about the execution of this strategy.
This strategic pivot reflects broader market trends in corporate treasury diversification, particularly among smaller-cap companies seeking alternative stores of value. However, KULR's core business in energy management platforms has synergy with cryptocurrency investments. The
The reference to political developments and potential national Bitcoin reserves adds context but shouldn't overshadow the fundamental business risks. This move could impact KULR's ability to fund core operations and R&D initiatives if Bitcoin experiences significant volatility. Institutional investors may view this as increasing the company's risk profile beyond its operational business risks.
HOUSTON, Dec. 04, 2024 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leader in advanced energy management platforms, today announced its Board of Directors has agreed to include bitcoin (“BTC”) as a primary asset in its treasury program. With over
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.
About KULR Technology Group Inc.
KULR Technology Group Inc. (NYSE American: KULR) delivers cutting edge energy storage solutions for space, aerospace, and defense by leveraging a foundation of in-house battery design expertise, comprehensive cell and battery testing suite, and battery fabrication and production capabilities. The Company’s holistic offering allows delivery of commercial-off-the-shelf and custom next generation energy storage systems in rapid timelines for a fraction of the cost compared to traditional programs. For more information, please visit www.kulrtechnology.com.
Safe Harbor Statement
This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on April 12, 2024, as may be amended or supplemented by other reports we file with the Securities and Exchange Commission from time to time. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” and “would” or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management’s best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
Investor Relations:
KULR Technology Group, Inc.
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Email: ir@kulrtechnology.com
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