KULR Technology Group has liquidated its remaining Bitcoin holdings, selling 764 BTC between Aug. 20 and Sept. 11 for approximately $58.6 million in gross proceeds. The sale reduces the battery technology company’s Bitcoin position to zero and marks the conclusion of a broader retreat from cryptocurrency assets.
The final tranche was sold at a weighted average price of $76,633 per Bitcoin through open-market transactions to unrelated buyers. Earlier in August, KULR had disclosed the sale of 333 Bitcoin for approximately $21.5 million, with $20 million of those proceeds directed toward repaying Coinbase debt.
Mining Operation Shutdown
KULR’s exit from Bitcoin reflects a strategic shift in capital allocation. The company shut down its Bitcoin mining operation as management moved to concentrate resources on its energy platform. The treasury liquidation completes a multi-month unwinding that began when the company disclosed its earlier August Bitcoin sale after June 30.
Broader Corporate Reassessment
KULR’s decision to abandon its Bitcoin treasury follows a pattern among public companies reassessing crypto-heavy balance sheets. Several firms have rebalanced holdings amid volatile financing conditions and weaker equity-market premiums for crypto exposure.
The company did not disclose the cost basis of the 764 Bitcoin sold or specify how it plans to deploy the $58.6 million in proceeds from the final sale.
