KULR Technology Group has secured a $20 million credit facility from Coinbase Credit to further expand its Bitcoin holdings, reinforcing the company’s bold BTC-first treasury strategy.
Key Takeaways
- 1KULR Technology Group has signed a $20 million credit facility agreement with Coinbase Credit, Inc., a subsidiary of Coinbase Global
- 2The multi-draw facility gives KULR access to non-dilutive capital to accelerate its Bitcoin accumulation goals
- 3KULR continues to expand its Bitcoin treasury, already doubling its BTC holdings in 2025
- 4The partnership cements KULR’s role among leading public companies using debt to build significant Bitcoin reserves
KULR Technology Group, the company, listed on the NYSE American, just announced a major step in that direction with a fresh $20 million credit facility from Coinbase Credit, Inc., the lending arm of crypto giant Coinbase Global.
Details of the Coinbase Credit Facility
KULR’s new agreement establishes a multi-draw loan facility with Coinbase Credit, making up to $20 million available for the company to access and deploy as part of its aggressive Bitcoin accumulation strategy. This marks KULR’s first bitcoin-backed credit arrangement, setting a strong precedent for other firms considering similar moves.
- The facility is designed to provide non-dilutive capital, meaning shareholders are not diluted by new stock issuances for this funding
- KULR intends to use the facility proceeds solely to acquire more Bitcoin, according to its long-term treasury objectives
- Funds will be available to KULR upon full execution of the credit facility, and the company will use a portion of its existing BTC holdings as collateral
KULR’s CEO, Michael Mo, emphasized the strategic value of the deal:
“This marks KULR’s first bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate. It reflects our commitment to diversifying our funding sources as we continue to execute on long-term growth strategies to drive shareholder value.”
Building a Bitcoin-First Treasury
KULR’s commitment to Bitcoin is hardly new, but the scale has grown dramatically. Since unveiling its BTC treasury plan in December 2024, KULR has more than doubled its Bitcoin reserves:
- In early January 2025, KULR held about 430 BTC
- As of June 2025, the company reported 920 BTC, placing it among the top public Bitcoin-holding corporations
This momentum is no accident. KULR has publicly committed to allocating up to 90% of its cash surplus to Bitcoin, signaling strong conviction in the digital asset as a treasury reserve. The company is a member of the Bitcoin for Corporations group, which includes other high-profile names like MicroStrategy (now “Strategy”), MARA Holdings, Riot Platforms, Metaplanet, and Galaxy Digital Holdings.
- KULR currently ranks number 34 among public Bitcoin treasury companies, according to market data
- The majority of top Bitcoin-holding companies, including KULR, have utilized various forms of debt or credit to grow their BTC positions
Coinbase Prime as a Trusted Partner
Security and management of these digital assets is no small matter. In 2024, KULR selected Coinbase Prime for custody and wallet services, joining eight of the ten largest public Bitcoin-holding companies who trust Coinbase’s institutional platform for digital asset management. This relationship has now expanded to include the credit facility, further intertwining KULR’s treasury with Coinbase’s offerings.
KULR will secure the new credit facility using a portion of its Bitcoin holdings as collateral. The company also leverages Coinbase Prime for stablecoin (USDC) custody and self-custodial wallet services.
Expanding Capital Market Moves
In addition to the new credit line, KULR recently entered into a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. and Craig-Hallum Capital Group LLC. This agreement allows KULR to sell up to $300 million of common stock at market prices, providing further financial flexibility to support its Bitcoin accumulation plans.
- Cantor Fitzgerald acts as the sole sales agent, using commercially reasonable efforts to sell shares in at-the-market (ATM) offerings
- The ATM offering is conducted under an existing shelf registration, giving KULR the option to raise capital as needed based on market conditions
KULR’s Ongoing Bitcoin Accumulation Strategy
KULR views its Bitcoin holdings as a core, long-term asset. The company has not set a specific target for total BTC holdings, instead choosing to adapt its strategy based on market conditions and available opportunities.
KULR said in a recent statement:
“We view our bitcoin holdings as long term holdings and expect to continue to accumulate bitcoin. 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.”
CoinLaw’s Takeaway
KULR’s bold moves highlight a growing trend among public companies: using credit and creative financing to maximize Bitcoin reserves. The company’s partnership with Coinbase Credit and ongoing capital market flexibility point to a sophisticated treasury strategy centered on Bitcoin as a primary store of value. Investors and analysts will be watching closely to see if this aggressive accumulation pays off, especially as other companies look to follow suit.
