KULR Technology Group, Inc. (NYSE: KULR), a developer of advanced battery and thermal management solutions for aerospace, defense, and other high-performance applications, has liquidated a portion of its Bitcoin treasury to clear outstanding obligations under a credit arrangement with Coinbase Credit, Inc., part of Coinbase (NASDAQ:COIN).
Between July 9 and July 23, 2026, the company disposed of roughly 333 Bitcoin through open-market sales to independent buyers.
These transactions occurred at a weighted average price of approximately $64,538 per Bitcoin and produced gross proceeds near $21.5 million. Management characterized the sales as routine treasury management activity rather than a shift away from digital assets.
Net proceeds from the Bitcoin disposals were directed toward full repayment of the principal balance on KULR’s $20 million credit facility with Coinbase Credit.
After the repayment, no principal remained outstanding.
Accrued interest will be finalized at month-end and is scheduled for payment in August 2026.
As a direct result of clearing the facility, approximately 565 Bitcoin previously pledged as collateral are expected to return to the company’s unrestricted holdings.
As of July 23, 2026, KULR reported remaining Bitcoin reserves of about 760 coins.
Combined with the anticipated release of the collateralized coins, the firm retains meaningful exposure to Bitcoin while operating with a largely debt-free balance sheet.
Company statements framed the decision as a proactive measure taken amid elevated market volatility.
By extinguishing the credit facility, KULR sought to lower interest costs, eliminate collateral and potential liquidation risks, and enhance overall financial flexibility.
At the same time, it preserved upside potential through continued Bitcoin ownership.
The move aligns with a disciplined capital-allocation approach emphasized by the company’s recently refreshed board and chief financial officer, who have prioritized balance-sheet strength alongside growth in the core battery technology business.
The credit facility itself originated in July 2025 as KULR’s first Bitcoin-backed financing arrangement.
At the time, the company indicated the facility would support its broader strategy of accumulating Bitcoin as a primary treasury asset, using a portion of existing holdings as security.
Subsequent drawdowns increased the outstanding balance, which the recent sales fully extinguished.
Remaining proceeds after debt repayment are earmarked for general corporate purposes.
KULR continues to position itself as focused on scaling production of specialized battery systems for space, drones, AI data centers, and related markets, while managing digital-asset exposure in a manner intended to support long-term stockholder value.
The transactions and repayment were disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission. Investors can review the complete filing for the official account of the events, including related forward-looking statements and risk factors.
