Bitcoin’s Price Blasts Higher With $81M in Shorts Burned—Fed Cut Bets Hold Firm
KULR Plans to Raise Up to $300M to Fuel Bitcoin Purchases
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Francisco Rodrigues
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By Francisco Rodrigues|Edited by Sheldon Reback
Updated Jun 9, 2025, 4:16 p.m. Published Jun 9, 2025, 3:31 p.m.
- KULR is seeking to raise up to $300 million through an at-the-market offering of common stock.
- The company, which currently holds 800 BTC, plans on using the funds for general corporate purposes, including acquiring more bitcoin.
Energy-management firm KULR (KULR) is looking to raise up to $300 million by selling shares of its common stock in an at-the-market (ATM) offering facilitated by Cantor Fitzgerald.
The funds will be used for general corporate purposes, including working capital and the acquisition of more bitcoin
, the company said in anSEC filing.
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California-based KULR began using bitcoin as its primary treasury reserve asset in late 2024, adopting a strategy similar to that of Strategy (MSTR). It currently holds 800 BTC, according to BitcoinTreasuries data.
Many companies looking to build up their bitcoin treasury holdings have turned to at-the-market programs fund the purchases. These include Strategy, which also included preferred stock ATM programs, as well as The Blockchain Group, MARA Holdings and Semler Scientific.
To support its accumulation efforts, KULR also leased 5,500 S-19 bitcoin miners in two agreements totaling over $4 million, according to the filing.
So far, the company has earned nearly 10 BTC from these operations. It has purchased hundreds more on the open market through Coinbase, adding in 449.45 BTC in the three months ending on March 31, and an additional 244.36 BTC since.
KULR’s shares have gained 3.4% today to $1.22.
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk’s $1,000 disclosure threshold.
