KULRTech Abandons Bitcoin Treasury Strategy, Suffers $22.62M Loss

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KULRTech has reportedly abandoned its Bitcoin treasury strategy, selling 145.8 BTC to Coinbase Prime, according to its latest Bitcoin market update. The company now holds only 100 BTC, down from an initial holding of 1,021 BTC valued at $100 million. With an average purchase price of $98,923 and a sell price of $74,368, KULRTech has incurred a $22.62 million loss. Its Bitcoin treasury page is offline, and its social media channels have not mentioned Bitcoin in recent months.

According to on-chain analyst Ember (@EmberCN), BTC treasury company @KULRTech transferred another 145.8 BTC (approximately $9.45 million) to Coinbase Prime five hours ago. After multiple sell-offs over the past three months, its original holding of 1,021 BTC (approximately $101 million) has now been reduced to just 100 BTC (approximately $6.47 million). The company’s average purchase price for BTC was $98,923, while its average sell price was $74,368, resulting in an accumulated loss of approximately $22.62 million. Currently, the Bitcoin treasury page on its official website has been taken down, and its official social media channels have not mentioned Bitcoin-related content for an extended period. The broader market generally believes the company has abandoned its Bitcoin treasury strategy.

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