KULR Tech Shares Rise After New $20 Million Credit Facility
Dow Jones Newswires
2025-07-08 22:31:00
By Chris Wack
KULR Technology Group shares climbed as much as 23%, at $7.94, after the company said it has secured a $20 million credit facility with Coinbase Credit, a subsidiary of Coinbase Global.
The cryptocurrency company on Tuesday said the agreement establishes a multi-draw loan facility initially totaling up to $20 million, which will be available to KULR upon execution of the credit facility.
The Webster, Texas, company said it intends to use the proceeds to fund its strategic Bitcoin-accumulation goals.
KULR said amounts borrowed under the credit facility will be secured by a portion of its total bitcoin holdings.
The stock has more than doubled in the past 12 months, and Bitcoin is trading at $108,858.
Write to Chris Wack at chris.wack@wsj.com
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