KULR Technology Group, a Bitcoin strategy firm with a core asset, has announced a $20 million credit facility agreement with Coinbase Credit, a subsidiary of the prominent cryptocurrency exchange Coinbase.
This strategic financial maneuver highlights the firm’s commitment to expanding its Bitcoin holdings and solidifying its position as a Bitcoin-first entity. The $20 million credit facility, structured as a multi-draw facility, will be used to acquire additional Bitcoin.
This decision aligns with the company’s previously articulated Strategy of allocating a substantial portion of its cash surplus, up to 90%, towards accumulating Bitcoin as a treasury asset.
KULR Aims to Bolster Bitcoin Holdings
Since publicly announcing its Bitcoin acquisition strategy in December 2024, KULR has consistently increased its Bitcoin reserves throughout 2025. Starting with approximately 430 BTC in early January, the company has more than doubled its holdings, reaching a total of 920 BTC by early June.
In a statement, KULR Technology Group CEO Michael Mo stated:
This marks KULR’s first bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate. It reflects our commitment to diversifying our funding sources as we continue to execute on long-term growth strategies to drive shareholder value.
KULR’s involvement extends beyond mere acquisition; the company is an active member of the Bitcoin for Corporations group, an initiative spearheaded by Strategy (formerly MicroStrategy), a leading entity in the realm of Bitcoin treasury management.
Notably, leading the pack of public Bitcoin treasury companies is Michael Saylor’s Strategy, holding a substantial 597,325 BTC. Other notable entities in the top tier include MARA Holdings, Riot Platforms, Metaplanet, and Galaxy Digital Holdings, all of which demonstrate significant investments in Bitcoin as a treasury asset.
Additionally, among the notable entrants inspired by Strategy’s pioneering approach are Rumble, DeFi Technologies, and Prenetics. Many of these companies have leveraged debt financing to bolster their Bitcoin holdings.
Strategic Partnership with Coinbase
KULR strategically partnered with Coinbase Prime for custody, stablecoin (USDC), and self-custodial wallet services, ensuring the secure and efficient management of its digital assets.
Notably, based on current market data, KULR’s 920 Bitcoin holdings place it in the 34th position among public Bitcoin treasury companies, closely following Core Scientific, a company slated for acquisition by CoreWeave.
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