KULR Sold Its Entire 1,099-Bitcoin Treasury for $80.1 Million and Repaid Its Coinbase Loan
KULR Technology Group sold every bitcoin it held, 1,099.09 coins, for net proceeds of about $80.1 million in the third quarter, repaid the $20.0 million outstanding on its Coinbase credit facility and closed September with $54.5 million of cash and no digital assets. The Houston battery and energy-systems maker disclosed the exit in its third-quarter results on Nov. 10, about four months after it wound down bitcoin mining and roughly a year after the treasury position became the centre of its equity story.