The energy management company KULR (KULR) seeks to travel up to $ 300 million by selling shares in its joint stock in a market (ATM) offering relieved by Cantor Fitzgerald.
The funds will be used for general business purposes including operating capital and acquisition of more Bitcoin
said the company in a SEC archiving.
California-based Kulr began using Bitcoin as its primary state reserve asset at the end of 2024 and adopted a strategy similar to the strategy (Mstr). It currently has 920 BTC.
Many companies that want to build their Bitcoin Treasury stocks have approached market programs that finance the purchases. These include strategy that also included preferred ATM programs for stock, as well as the Blockchain group, Mara Holdings and Semler Scientific.
To support its accumulation effort, KULR also rented 5,500 S-19 Bitcoin miners in two agreements of over $ 4 million, according to the archiving.
So far, the company has earned almost 10 BTC from these operations. It has bought hundreds more in the open market through Coinbase, added 449.45 BTC in the three months ended on March 31, and another 244.36 BTC since.
KULR’s shares have received 3.4% today for $ 1.22.
