KULR Technology Group Announces $20 Million Credit Facility with Coinbase
HOUSTON, July 08, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a Bitcoin First Company and global leader in sustainable energy management, announced today that it has secured a $20 million credit facility with Coinbase Credit, Inc., a subsidiary of Coinbase Global, Inc. (NASDAQ: COIN).
The agreement establishes a multi-draw loan facility initially totaling up to $20 million, which will be available to KULR upon execution of the credit facility ("Effective Date"). The Company intends to use the net proceeds to fund its strategic Bitcoin accumulation goals.
"This marks KULR’s first bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate," said Michael Mo, CEO of KULR. "It reflects our commitment to diversifying our funding sources as we continue to execute on long-term growth strategies to drive shareholder value."
In 2024, KULR selected Coinbase’s Prime platform to provide custody, USDC, and self-custodial wallet services for its Bitcoin holdings. At present, eight of the ten largest publicly traded companies with bitcoin on their balance sheets utilize Coinbase Prime for similar services.
Amounts borrowed under the credit facility will be secured by a portion of the Company’s total bitcoin holdings.
About KULR Technology Group,
Inc.
KULR Technology Group, Inc. (NYSE American: KULR) is a
Bitcoin First Company that delivers cutting edge energy storage solutions
for space, aerospace, and defense by leveraging a foundation of in-house
battery design expertise, comprehensive cell and battery testing suite, and
battery fabrication and production capabilities. The Company’s holistic
offering allows delivery of commercial-off-the-shelf and custom next
generation energy storage systems in rapid timelines for a fraction of the
cost compared to traditional programs. Since late 2024, KULR has included
bitcoin as a primary asset in its treasury program and committed to
allocating up to 90% of its excess cash to the acquisition of bitcoin.
Find KULR: Website | X | Telegram | LinkedIn | Instagram | TikTok | Facebook
Safe Harbor Statement
This release
contains certain forward-looking statements based on our current
expectations, forecasts and assumptions that involve risks and
uncertainties. Forward-looking statements in this release are based on
information available to us as of the date hereof. Our actual results may
differ materially from those stated or implied in such forward-looking
statements, due to risks and uncertainties associated with our business,
which include the risk factors disclosed in our Form 10-K filed with the
Securities and Exchange Commission on March 31, 2025, as may be amended or
supplemented by other reports we file with the Securities and Exchange
Commission from time to time. Forward-looking statements include statements
regarding our expectations, beliefs, intentions, or strategies regarding
the future and can be identified by forward-looking words such as
“anticipate,” “believe,” “could,” “estimate,” “expect,”
“intend,” “may,” “should,” and “would” or similar words.
All forecasts are provided by management in this release are based on
information available at this time and management expects that internal
projections and expectations may change over time. In addition, the
forecasts are entirely based on management’s best estimate of our future
financial performance given our current contracts, current backlog of
opportunities and conversations with new and existing customers about our
products and services. We assume no obligation to update the information
included in this press release, whether as a result of new information,
future events or otherwise.
Investor
Relations:
KULR Technology Group, Inc.
Phone:
858-866-8478 x 847
Email: ir@kulr.ai
KULR Media Relations:
M Group
Strategic Communications (on behalf of KULR)
Email: kulr@mgroupsc.com
