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Bitcoin Magazine
KULR Secures $20M Bitcoin-Backed Credit Facility from Coinbase Credit
Today, KULR Technology Group, Inc. (NYSE American: KULR) introduced it has secured a $20 million bitcoin-backed credit score facility from Coinbase Credit, Inc., a subsidiary of Coinbase Global (NASDAQ: COIN).
The deal units up a multi-draw mortgage facility price up to $20 million, which KULR can entry beginning on the efficient date. The funding will assist KULR’s strategic Bitcoin accumulation targets.
“This marks KULR’s first bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate,” stated the CEO of KULR 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.”
In 2024, KULR selected Coinbase Prime to deal with the storage and administration of its Bitcoin belongings, including custody, USDC, and self-custodial pockets providers. Currently, Coinbase Prime is also the platform of alternative for eight of the ten largest public corporations holding Bitcoin.
$KULR pic.twitter.com/FwezTQ2eGb— KULR Technology (@KULRTech) July 8, 2025
This newest transfer builds on KULR’s Bitcoin-focused monetary technique. On June 9, the firm entered a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. and Craig-Hallum Capital Group LLC, permitting it to promote up to $300 million of its frequent inventory in an at-the-market (ATM) providing to further assist its Bitcoin treasury reserve.
Under the settlement, Cantor Fitzgerald will act as the sole gross sales agent, utilizing commercially cheap efforts to promote shares at market costs. The providing will be made under an current shelf registration and may happen from time to time based mostly on market circumstances and firm discretion.
“We view our bitcoin holdings as long term holdings and expect to continue to accumulate bitcoin,” added KULR. “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.”
This publish KULR Secures $20M Bitcoin-Backed Credit Facility from Coinbase Credit first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.
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