KULR Technology Group, Inc. (NYSE American: KULR) has secured a Bitcoin-backed credit facility of up to $20 million from Coinbase Credit, Inc., a subsidiary of Coinbase Global (NASDAQ: COIN).
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— KULR Technology (@KULRTech) July 8, 2025
The arrangement enables KULR to draw on a multi-tranche loan facility beginning from the effective date. Proceeds will be used to support the company’s Bitcoin accumulation strategy.
“This marks KULR’s first Bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate,” said KULR CEO Michael Mo.
“It reflects our commitment to diversifying our funding sources as we continue to execute on long-term growth strategies to drive shareholder value.”
Earlier in 2024, KULR selected Coinbase Prime to manage and safeguard its digital asset holdings, including Bitcoin, USDC, and self-custodial wallets.
Coinbase Prime currently serves as the custody platform for eight of the ten largest public Bitcoin-holding companies.
The announcement follows KULR’s recent steps to increase its Bitcoin-centered financial strategy.
On June 9th, the firm entered a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. and Craig-Hallum Capital Group LLC.
The agreement allows KULR to offer up to $300 million in common stock through an at-the-market (ATM) offering to bolster its Bitcoin reserves.
Cantor Fitzgerald will act as the exclusive sales agent, executing stock sales at prevailing market prices.
The offering, conducted under an existing shelf registration, will be carried out at the company’s discretion based on market conditions.
“We view our Bitcoin holdings as long term holdings and expect to continue to accumulate Bitcoin,” the company stated.
“We have not set any specific target for the amount of Bitcoin we seek to hold, and we will continue to monitor market conditions in determining whether to engage in additional Bitcoin purchases.”