KULR Tech Hits $51M Loss on Bitcoin Volatility

KULR Technology Group (NYSE: KULR) swung to a significant $51 million loss in the first half of 2026, mainly due to volatility in its Bitcoin holdings. According to its Form 10-Q filing, the company's revenue was roughly flat at $6,026,607 compared to 2025, but cost of revenue and operating expenses kept the core business unprofitable.

The largest impact came from digital assets: a $31,359,380 negative change in fair value of Bitcoin contributed to a net loss of $50,990,660 for the first half of 2026. The company held 1,091.69 BTC with a fair value of $63,922,870 and a cost basis of $109,801,107 as of June 30, 2026.

Management stated that cash, Bitcoin holdings, and working capital are expected to cover obligations for at least twelve months. The company also repaid its $20 million Coinbase loan after quarter-end using BTC sale proceeds.