KULR Secures $20M Coinbase Credit Line for Bitcoin Buys
2025-07-08 21:58:55
Main Idea
KULR Technology Group secured a $20 million credit facility from Coinbase Credit to fund bitcoin purchases, marking its first bitcoin-backed financing.
Key Points
1. KULR Technology Group Inc. obtained a $20 million credit facility from Coinbase Credit Inc., a subsidiary of Coinbase Global Inc.
2. The agreement establishes a multi-year credit line for KULR to fund bitcoin purchases, secured by a portion of KULR's bitcoin holdings.
3. KULR selected Coinbase’s Prime platform in 2024 for custody and related services for its bitcoin holdings.
4. KULR has committed to allocating up to 90% of its excess cash to bitcoin acquisition as part of its treasury program.
5. This marks KULR’s first bitcoin-backed financing, as stated by CEO Michael Mo.
Description
KULR Technology Group secured a $20 million credit facility from Coinbase Credit to fund bitcoin purchases. KULR to Fund Bitcoin Purchases With $20M Coinbase Loan According to the announcement published on Tuesday, KULR Technology Group Inc. obtained a $20 million credit facility from Coinbase Credit Inc., a subsidiary of Coinbase Global Inc. The agreement, announced
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