In a notable development within the corporate Bitcoin treasury landscape, KULR Technology Group has secured a $20 million credit facility from Coinbase Credit, underscoring its strong commitment to expanding its Bitcoin holdings and reinforcing its BTC-first treasury strategy. The announcement, made public on July 8, 2025, signals KULR’s strategic initiative to leverage credit markets to accelerate its accumulation of Bitcoin as a key corporate asset.
This article examines the details of the credit facility, KULR’s growing Bitcoin treasury, its position within the broader corporate Bitcoin ecosystem, and the implications of such financing arrangements for companies adopting Bitcoin as a treasury reserve.
Background: KULR’s Bitcoin Treasury Strategy
KULR Technology Group, a company known for its innovations in thermal management solutions for electric vehicles and electronics, entered the Bitcoin treasury space relatively recently but with clear intent and ambition. In December 2024, the company publicly announced plans to establish a BTC treasury strategy — committing to allocate up to 90% of its cash surplus toward Bitcoin acquisitions.
This strategic pivot aligns with a broader trend among publicly traded companies diversifying their treasury reserves beyond traditional fiat assets. Bitcoin, widely viewed as a digital store of value and hedge against inflation, has become increasingly attractive as a corporate treasury asset.
Since the initial announcement, KULR has aggressively increased its Bitcoin holdings. Where the company held about 430 BTC in early January 2025, by early June, its Bitcoin holdings had more than doubled to approximately 920 BTC. This substantial growth illustrates KULR’s unwavering focus on leveraging Bitcoin to drive long-term shareholder value.
Details of the $20 Million Coinbase Credit Facility
The recently secured $20 million credit facility is provided by Coinbase Credit, the lending arm of Coinbase, one of the largest and most trusted cryptocurrency exchanges in the United States. The facility is structured as a multi-draw credit line, allowing KULR to draw down funds as needed to purchase additional Bitcoin.
Michael Mo, CEO of KULR Technology Group, expressed optimism about the arrangement, stating:
“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.”
This facility stands out as non-dilutive capital, meaning it allows KULR to raise funds without issuing new equity shares that could dilute existing shareholders’ ownership stakes. It also provides liquidity with a competitive cost of capital, empowering KULR to buy more Bitcoin without tapping into other funding channels.
Importantly, KULR will secure the credit line using a portion of its existing Bitcoin holdings, demonstrating confidence in Bitcoin as collateral and leveraging Coinbase’s custody and wallet infrastructure.
KULR’s Partnership with Coinbase Prime
KULR has chosen Coinbase Prime as its preferred partner for custody services, stablecoin transactions, and self-custodial wallet services. Coinbase Prime offers institutional-grade security, compliance, and operational efficiency, making it a favored choice for public companies and large investors entering the cryptocurrency space.
The synergy between KULR and Coinbase Prime adds a layer of trust and security to KULR’s Bitcoin treasury management, ensuring compliance with regulatory standards and safeguarding digital assets. This partnership facilitates smooth execution of credit draws and Bitcoin purchases, allowing KULR to operate efficiently in a rapidly evolving market.
KULR’s Position Among Public Bitcoin Treasury Companies
KULR’s Bitcoin holdings now place it prominently among the top corporate holders of Bitcoin worldwide. As of early June 2025, KULR’s 920 BTC puts it at rank 34 in the list of public Bitcoin treasury companies, just behind Core Scientific, which is in the process of being acquired by CoreWeave.
The top positions are dominated by larger corporate giants such as Strategy (formerly MicroStrategy), led by Michael Saylor, which holds an astonishing 597,325 BTC, making it the largest publicly traded Bitcoin treasury holder by a wide margin.
Other notable companies within the top six include MARA Holdings, Riot Platforms, Metaplanet, and Galaxy Digital Holdings — all major players that have adopted Bitcoin as part of their treasury strategy.
KULR’s rise in this list highlights the growing diversity of companies adopting Bitcoin treasury strategies, ranging from tech firms and miners to companies in diverse industries recognizing the asset’s value.
The Growing Trend of Debt-Financed Bitcoin Acquisition
KULR is not alone in leveraging debt facilities to purchase Bitcoin. Many public companies have adopted similar strategies, raising debt to add Bitcoin to their balance sheets without diluting shareholder equity or liquidating other assets.
Debt financing allows these companies to:
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Accelerate Bitcoin accumulation without waiting to build cash reserves.
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Maintain operational liquidity while still committing to long-term BTC holdings.
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Optimize capital structure by balancing debt and equity in the corporate treasury.
Such financial engineering indicates maturity in the corporate Bitcoin treasury ecosystem, where firms increasingly view Bitcoin not just as an investment but as a strategic financial asset.
Implications for Investors and Shareholders
KULR’s strategy to allocate significant resources toward Bitcoin acquisition, backed by a credit facility from a reputable lender like Coinbase, sends a strong signal to investors about the company’s confidence in Bitcoin’s role as a value driver.
The advantages for shareholders include:
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Potential appreciation in Bitcoin’s value contributing to overall company valuation.
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Enhanced treasury diversification, mitigating risks associated with cash holdings.
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Access to capital without equity dilution, preserving shareholder stakes.
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Alignment with a growing market trend, potentially attracting crypto-focused investors.
However, it also introduces new risks:
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Volatility risk inherent in Bitcoin’s price fluctuations.
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Leverage risk associated with debt financing, requiring careful management of debt service obligations.
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Regulatory and market risk, as evolving regulations could impact Bitcoin’s corporate adoption.
Investors and analysts will closely monitor how KULR balances these opportunities and risks as it executes its Bitcoin treasury strategy.
The Future Outlook for KULR and Corporate Bitcoin Holdings
As Bitcoin adoption continues to grow among public companies, firms like KULR are paving the way for more corporate integration of digital assets. The use of credit facilities like the one from Coinbase is likely to become a more common tool for companies seeking to build Bitcoin treasuries efficiently.
Going forward, factors that will influence KULR’s and other companies’ Bitcoin treasury success include:
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Bitcoin price trends and market volatility.
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Regulatory clarity and compliance requirements governing corporate crypto holdings.
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Advancements in custody and security solutions to protect digital assets.
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Investor sentiment toward Bitcoin and cryptocurrency exposure.
KULR’s strategic partnerships, capital structure decisions, and risk management will be critical as it navigates this dynamic environment.
Conclusion
KULR Technology Group’s $20 million Bitcoin-backed credit facility from Coinbase marks a significant milestone in the company’s ambitious BTC treasury strategy. By securing competitive, non-dilutive financing to expand its Bitcoin holdings, KULR reinforces its commitment to leveraging digital assets for long-term growth and shareholder value.
Positioned among the world’s leading public corporate Bitcoin holders, KULR exemplifies the increasing institutionalization and sophistication of Bitcoin treasury management. As the corporate crypto landscape evolves, KULR’s approach may serve as a model for other firms looking to responsibly integrate Bitcoin into their financial strategies.
With the continued support of trusted partners like Coinbase and a clear strategic vision, KULR is well-positioned to navigate the opportunities and challenges ahead in the burgeoning world of corporate Bitcoin treasuries.
