KULR Dumps Bitcoin Holdings for $58.6M Amid Stock Price Slump
KULR Technology Group has sold its remaining Bitcoin holdings in a series of open market transactions. The company disposed of approximately 764 Bitcoins between August 20 and September 10, at an average price of $76,633 per coin, generating gross proceeds of around $58.6 million.
This move comes as the stock trades at $2.38, down 47% over the past year and 6.7% in the last week alone. According to InvestingPro analysis, KULR Technology Group is currently undervalued relative to its Fair Value of $3.20.
The company's board compensation committee has also approved a grant of 200,000 time-based restricted stock units (RSUs) to Michael Kimel, the chief financial officer, under the KULR Technology Group, Inc. 2025 Equity Incentive Plan. The RSUs will vest in eight equal semi-annual installments over four years.