PANews reported on May 13 that, according to on-chain analyst Ember, Bitcoin treasury company KULR Tech (@KULRTech) transferred 300 BTC (US$24.36 million) to Coinbase Prime two hours ago.

Starting in December 2024, the company announced it would allocate 90% of its surplus cash to BTC, accumulating 1,021 BTC ($101 million) in reserves by July 2025, at an average price of $98,923. At current prices, this represents a loss of $18.25 million on its BTC holdings. KULR's stock price surged nearly tenfold to $43.92 after the BTC reserve announcement in December 2024, before subsequently plummeting to $3.19, a drop of 92.7%.