Energy management company KULR (KULR) aims to raise up to $300 million by selling common stock through Cantor Fitzgerald-facilitated market (ATM) offerings.
Funds are used for general corporate purposes, such as working capital and acquisitions of more Bitcoin.
BTC$107,812.18
The company said in its SEC filing.
California-based Kulr began using Bitcoin as a major Treasury protection asset in late 2024, adopting a strategy similar to the Strategy (MSTR). It currently holds 800 BTC, according to Bitcointreasuries data.
Many companies looking to build Bitcoin Treasury holdings have now come to fund their programmes in the market. These include Blockchain Group, Mara Holdings, and Semler Scientific as well as the Priority Stock ATM Program.
To support the accumulation effort, KULR also leases 5,500 S-19 Bitcoin miners in two contracts totaling over $4 million, according to submissions.
So far, the company has acquired nearly 10 BTC from these businesses. I’ve bought hundreds more in the open market via Coinbase, adding 449.45 BTC in the three months that ends on March 31, and since then I’ve added another 244.36 BTC.
Kulr’s shares rose 3.4% to $1.22 today.
