KULR Technology sold 333 Bitcoin for $21.5 million this week, using the proceeds to fully repay a credit facility from Coinbase. The company now holds 760 Bitcoin and says it is debt-free.
Paying off the Coinbase line
The credit facility was a financing arrangement that let KULR borrow against its Bitcoin holdings. By selling a portion of its stash, the company eliminated that liability entirely. The move clears the balance sheet of what was likely a recurring interest expense and removes any risk of forced liquidation if Bitcoin's price dropped sharply.
760 Bitcoin still on the books
After the sale, KULR still holds 760 Bitcoin. At current prices that's a sizable position for a publicly traded company. The firm didn't indicate any plans to sell more, suggesting it sees the remaining holdings as a long-term asset rather than a source of working capital.
A debt-free position
KULR is now debt-free, a status that gives it more flexibility in how it manages its cash and crypto. The timing isn't bad — with Bitcoin trading well above its purchase price for many corporate holders, selling a chunk to kill debt looks like a pragmatic move. The company didn't say whether it would take out new credit lines against its remaining Bitcoin.
