Crypto
KULR Sells $9.45M in Bitcoin, Abandons Aggressive Accumulation Strategy
KULR Technology, an NYSE-listed company, has made a significant move in its Bitcoin holdings. The firm transferred 145.8 BTC to Coinbase Prime, valued at approximately $9.45 million, according to blockchain analytics firm EmberCN.
This transaction marks another substantial reduction in KULR's digital asset holdings. In just three months, the company has sold off over 90% of its peak Bitcoin holdings, which once reached 1,021 BTC worth around $101 million at current market prices.
KULR's average purchase price for Bitcoin was $98,923, while its average selling price was $74,368. This discrepancy resulted in an estimated realized loss of $22.62 million on its Bitcoin trades.