KULR secures $20m credit facility from Coinbase to buy more Bitcoin
2025-07-08 16:41:00
Main Idea
KULR Technology Group secured a $20 million Bitcoin-backed credit facility from a Coinbase subsidiary to expand its BTC holdings and drive shareholder value.
Key Points
1. KULR Technology Group, a NYSE-listed Bitcoin-first company, announced a $20 million credit facility with a Coinbase subsidiary.
2. The company plans to use the funds to acquire more Bitcoin, continuing its strategy of allocating up to 90% of its cash surplus toward BTC.
3. KULR has significantly increased its Bitcoin holdings from 430 BTC in early January to 920 BTC by early June 2025.
4. The company is part of the Bitcoin for Corporations group and ranks 34th among public BTC treasury companies.
5. KULR partnered with Coinbase Prime for custody, USDC, and self-custodial wallet services, securing the credit facility with a portion of its BTC holdings.
Description
KULR Technology Group, a Bitcoin-first company listed on the NYSE American, has announced a $20 million credit facility with a subsidiary of the cryptocurrency exchange Coinbase, funds the company plans to use to acquire more Bitcoin. KULR, which has added to its Bitcoin ( BTC ) holdings since announcing plans to establish a BTC treasury strategy, said in a press release on July 8 that the $20 million credit facility is from Coinbase Credit and will be a multi-draw facility. The company intends ...
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