KULR Reports Mixed Q1 Results, Boosts Bitcoin Holdings to 800.3 BTC
KULR Technology Group, Inc. has reported mixed results for Q1 2025. While revenue surged by 40% to $2.45 million, driven by product sales, the company also saw a significant net loss of $18.81 million, largely due to bitcoin price fluctuations. Meanwhile, KULR's cash position stands at $27.59 million, with the company planning to allocate up to 90% of surplus cash to bitcoin purchases.
KULR's gross margin dipped to 8% in the first quarter, reflecting the impact of increased bitcoin price investments. The company's CEO, Michael Mo, remains optimistic, stating that KULR is well capitalized to grow its battery and AI Robotics businesses, and to acquire more bitcoin. Indeed, KULR has been actively expanding its bitcoin treasury, with the latest purchase bringing its total holdings to 800.3 BTC, bought at a weighted average price of $103,234.
This aggressive bitcoin price strategy has yielded impressive results so far, with KULR reporting a BTC Yield of 220.2% year-to-date. The company has invested a total of $78 million in bitcoin, with a recent $9 million expansion of its bitcoin Treasury. In comparison, Metaplanet, another tech company, reported bitcoin holdings of 6,796 BTC in its strongest quarter to date.
Despite a quarter marked by significant losses due to bitcoin price volatility, KULR Technology Group, Inc. remains committed to its aggressive bitcoin investment strategy. With a strong cash position and a CEO confident in the company's growth prospects, KULR continues to allocate surplus cash to bitcoin purchases, demonstrating its long-term commitment to the cryptocurrency.
