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Another $BTC treasury company "cutting losses": @KULRTech transferred 300 BTC ($24.36 million) into Coinbase Prime two hours ago.
They announced in December 2024 to allocate 90% of their surplus cash to BTC, and by July 2025 they had accumulated a reserve of 1,021 BTC ($101 million), with an average price of $98,923.
At the current price, their BTC has lost $18.25 million.
This seems to be just a "game" of telling a financial story using reserve BTC: KULR's stock price rose nearly 10 times to $43.92 after announcing the BTC reserve in December 2024, then steadily declined. As of now, it’s only $3.19, a drop of 92.7%.