KULR (KULR), a maker of advanced energy management systems, said it spent $8 million in bitcoin (BTC) to take its total holdings to 510 tokens.
At a weighted average price of $101,695, that equates to nearly 79 bitcoins and means the company’s total investment is now $50 million.
The purchase follows the Houston, Texas-based company’s announcement on Dec. 4 that it will invest some of its excess cash in the largest cryptocurrency as the adoption of bitcoin treasury for public company gathering steam.
The company has achieved a bitcoin yield of 127% so far this year, it said in a statement shared with CoinDesk. The yield is the percentage change in the ratio of its bitcoin holdings to its fully-diluted shares outstanding over a given period.
Since the investment strategy was announced, the company’s NYSE-traded shares have risen 90%, while bitcoin has added 7%. They closed Friday at $2.28 and rose 2.2% in pre-market trading Tuesday.
