KULR Technology Group has entered the Bitcoin market by purchasing 217.18 Bitcoin for $21 million, at an average price of $96,556 per coin. This acquisition is part of the company's new Bitcoin Treasury strategy, which aims to invest up to 90% of its surplus cash into Bitcoin as a long-term asset.

KULR's decision to invest in Bitcoin follows a trend among corporations, such as MicroStrategy, Marathon Digital Holdings, and Semler Scientific, who have also acquired significant amounts of Bitcoin recently, indicating a growing acceptance of cryptocurrency as a treasury asset.

To manage its Bitcoin holdings, the company will use Coinbase's Prime platform for custody, USDC, and self-custodial wallet services.