Bitcoin treasury firm KULR Tech transferred 300 BTC to Coinbase Prime

CoinFeed reported on May 13th that, according to on-chain analyst Ember, Bitcoin treasury company KULR Tech (@KULRTech) transferred 300 BTC ($24.36 million) to Coinbase Prime two hours ago. The company announced in December 2024 that it would allocate 90% of its surplus cash to BTC, accumulating 1021 BTC ($101 million) in reserves by July 2025, at an average price of $98,923. At current prices, this represents a loss of $18.25 million in BTC. KULR's stock price surged nearly tenfold to $43.92 after announcing its BTC reserves in December 2024, before subsequently plummeting to $3.19, a drop of 92.7%.