Crypto
KULR Ditches Remaining Bitcoin Holdings for $58.6 Million
KULR Technology Group has completed its exit from Bitcoin after selling its remaining 764 BTC for approximately $58.6 million in gross proceeds.
The battery technology company sold the coins between August 20 and September 11, at a weighted average price of about $76,633 per Bitcoin.
This sale brings KULR's Bitcoin holdings to zero as of September 11, marking the end of its treasury strategy that began unwinding in August.
KULR sold the coins through open-market transactions to unrelated buyers, and the filing does not disclose the cost basis or whether the final disposal produced a realized gain or loss.