Key Points
- KULR Technology Group and Genius Group Limited have significantly increased their Bitcoin holdings.
- Both companies are positioning Bitcoin as a central asset in their financial strategies.
KULR Technology Group and Genius Group Limited, both listed on the stock exchange, have reported substantial growth in their Bitcoin reserves as part of their financial strategies.
The Houston-based KULR Technology Group has enhanced its Bitcoin (BTC) treasury to 510 BTC following an additional $8 million acquisition.
Investment Details
The purchases, made at an average cost of $101,695 per Bitcoin, elevate KULR’s total Bitcoin holdings to $50 million.
This action is in line with KULR’s strategy for December 2024 to allocate up to 90% of its excess cash reserves to Bitcoin. The firm has achieved a year-to-date Bitcoin yield of 127%, using this metric to evaluate performance against its outstanding shares.
Genius Group’s Strategy
Simultaneously, the Singapore-based Genius Group has boosted its Bitcoin treasury to 420 BTC following a $5 million acquisition at an average cost of $95,912 per Bitcoin.
Over a three-month period, Genius Group has amassed $40 million in Bitcoin as part of its “Bitcoin-first” strategy, which commits at least 90% of its reserves to cryptocurrency.
The company intends to eventually possess $120 million in Bitcoin, funded through reserves, an ATM facility, and $19 million in crypto-backed loans from Arch Lending.
Both firms are positioning Bitcoin as a fundamental asset in their financial strategies, indicating a wider trend of corporate adoption of digital currencies.
