KULR Technology Group Repays Coinbase Credit Facility; Sells 333 BTC

What Happened

• KULR Technology Group, Inc. filed an 8-K disclosing that it sold approximately 333 bitcoin (BTC) in open-market transactions on July 23, 2026, for aggregate gross proceeds of about $21.5 million (weighted average sale price ≈ $64,538 per BTC).
• The net proceeds were applied to fully repay principal outstanding under its $20.0 million credit facility with Coinbase Credit, Inc.; after repayment no principal remains outstanding. Accrued and unpaid interest will be calculated at month-end and is expected to be paid in August 2026. In connection with the repayment, the 565.00 BTC previously pledged as collateral is expected to be released.
• The company stated the sales were part of ongoing treasury management and that it now holds approximately 760 BTC as of July 23, 2026 and maintains a largely debt-free balance sheet.

Key Details

• Bitcoin sold: ~333 BTC on July 23, 2026.
• Sales proceeds: ~ $21.5 million (weighted avg ≈ $64,538/BTC).
• Credit facility repaid: $20.0 million principal to Coinbase Credit, Inc.; accrued interest due in August 2026.
• Collateral release: 565.00 BTC previously pledged is expected to be returned to KULR; remaining BTC holdings ~760 BTC.

Why It Matters

• The transaction eliminated outstanding principal on KULR’s $20M credit line, removing collateral and liquidation risk tied to that facility and reducing interest expense exposure.
• For investors, this strengthens the company’s balance sheet and liquidity profile while preserving continued exposure to bitcoin through remaining holdings; it also signals active treasury management under the company’s new Board and CFO.