The Kurl Technology Group increased by $ 10 million in its bitcoin Treasury, strengthening its strategy of accumulating the world’s top cryptocurrency as a reserved property.
Kurl bought 100 bitcoins (BTC) for $ 10 million, scooping tokens for an average price of $ 103,905 per coin Announced By Michael MO, CEO and co-founder of the company.
The MO stated that the latest bitcoin acquisition of Kurl has expanded its total holdings up to 610 BTC, which is worth $ 60 million, while Bitcoin traded below $ 99,000.
The energy company started collecting bitcoins in December, which started with a purchase of $ 21 million. Kurl is committed to allocating 90% of its additional cash reserves towards BTC acquisition. Additionally, the company funded its bitcoin strategy through equity sales through an AT-the-market, offering, an accounting approach that is popular by microstrate to finance large bitcoin purchases.
Kurl’s bitcoin strategy has introduced a new performance metric called BTC Yield, which measures the percentage difference between outstanding diluted stocks and the company’s BTC holdings.
According to the MO, the Kurl’s BTC yield has reached 167.3% year-to-year, which provides additional benefits for shareholders and attracts more investors to participate in the company’s ATM program.
