US EditionWhy Is KULR Technology Stock Trading Higher On Tuesday? - KULR Technology Group (AMEX:KULR), Coinbase Global (NASDAQ:COIN)
UNITED STATES, JUL 8 – KULR Technology gains non-dilutive capital through a $20 million Bitcoin-backed loan with Coinbase Credit to support its digital asset growth strategy, CEO said.
- On Tuesday, KULR Technology announced a $20 million Bitcoin-backed credit facility with Coinbase Credit, marking its first such crypto-collateralized financing.
- Driven by its late-2024 shift to Bitcoin as a core asset, KULR announced a $20 million credit facility with Coinbase Credit to fund its strategic Bitcoin accumulation, leveraging up to 90% of excess cash.
- The credit facility is a multi-draw loan up to $20 million, collateralized by Bitcoin holdings, providing KULR immediate access to capital.
- Following the announcement, KULR shares rose, allowing access to $20 million non-dilutive credit, boosting investor confidence and supporting its Bitcoin strategy.
- Beyond KULR, this move exemplifies broader institutional adoption of digital assets, reinforcing its Bitcoin-focused strategy and Coinbase's key role in enabling secure crypto access.
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Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
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