KULR Bitcoin holdings appear to be under pressure after the company moved 300 BTC▼$63,518.00 to Coinbase Prime, according to on-chain analysts.
KULR Technology Group, a U.S.-listed battery and energy-storage company that became a small-cap Bitcoin treasury play, may be trimming part of its BTC position.
Lookonchain, an on-chain analytics account, wrote in an X post that KULR deposited 300 BTC, worth about $24.3 million, into Coinbase Prime, Coinbase’s institutional trading and custody platform. Transfers to trading venues often fuel selling speculation, though they don’t often prove a sale has happened.
Read also: Bitcoin Price Bottomed at $60K, BitMEX Co-Founder Says
As of press time, KULR hasn’t commented publicly on the transfer. The company launched its Bitcoin treasury strategy in December 2024 with a first purchase of about 217 BTC for $21 million, saying at the time that it could put up to 90% of its surplus cash into Bitcoin.
By July 2025, KULR said it held 1,021 BTC, bought for about $101 million at an average price of about $98,600 per BTC. As Lookonchain noted in the X post, KULR’s position is now down about $17.8 million.
Bitcoin Plan Looks Mixed
KULR’s Bitcoin strategy seemed to work out well at first, but now it looks a bit more mixed.
Following the first BTC acquisition, the company’s stock hit its record high of $4.80, while currently sitting at roughly $3.19, implying roughly a 33.5% drop since hitting the mentioned peak and its Bitcoin stash is losing money amid current Bitcoin price action.
If KULR decided to liquidate all 300 BTC at the value stated by Lookonchain above, it will earn roughly $24.36 million.
Read more: Best Bitcoin Indicators for Timing the Market in 2026
