KULR, a Houston-based energy-management systems company, has invested $8 million in bitcoin, bringing its total holdings to 510 BTC. The company’s latest purchase was made at a weighted average price of $101,695 per bitcoin, adding nearly 79 BTC to its portfolio. This investment strategy, announced on December 4, has resulted in a 127% bitcoin yield for the year. The yield measures the percentage change in the ratio of bitcoin holdings to the company’s fully diluted shares outstanding. Since the announcement, KULR’s shares have surged by 90%, while bitcoin itself has increased by 7%. The company’s shares closed at $2.28 on Friday and were up 2.2% in pre-market trading on Tuesday.
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