US-listed KULR Technology Group has sold all its Bitcoin holdings, ending a treasury strategy that it began unwinding in August. The battery technology company sold about 764 Bitcoin between Aug. 20 and September 11 for approximately USD 58.6 million in gross proceeds. The transactions carried a weighted average sale price of about USD 76,633 per Bitcoin, according to a regulatory filing.
KULR held no Bitcoin as of September 11 after completing open-market sales to unrelated buyers. The company described the transactions as part of its treasury management activities.
The company’s filing did not provide the cost basis for the coins sold. It also did not state whether the final disposal generated a realized gain or loss. Even so, the average sale price stood below KULR’s reported average acquisition cost at the end of the second quarter. Its second-quarter 2026 report placed that cost at about USD 100,579 per Bitcoin.
KULR first bought Bitcoin in December 2024 and steadily increased its holdings. By August 2026, the company had started reversing that strategy as management changed its financial priorities.
The Bitcoin sale followed other steps that reduced KULR’s cryptocurrency exposure. The company ended its Bitcoin mining operation after the second quarter and repaid its Coinbase loans in full.
Chief Executive Michael Kimmel said the measures aimed to limit stock dilution while reducing balance-sheet volatility. KULR also introduced a policy designed to improve financial visibility.
At the same time, management redirected funds and operational resources toward growth in the company’s core energy business. The September 11 Bitcoin sale completed the treasury side of that shift. The move also removed KULR’s remaining direct exposure to Bitcoin price changes. Previously, movements in Bitcoin could increase or reduce the value of assets on its balance sheet.
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The Bitcoin disposal generated about USD 58.6 million in gross proceeds and increased KULR’s available liquidity. Still, the filing did not explain how the company plans to use that cash.
As a result, investors lack details on whether KULR will direct the proceeds toward operations, debt reduction, acquisitions, or other balance-sheet priorities. What will KULR prioritize with the new liquidity? For now, the company has not ruled out future Bitcoin purchases. The filing records the sale of its remaining holdings but does not prevent KULR from rebuilding a position later.