09:04 AM EST, 12/26/2024 (MT Newswires) -- KULR Technology ( KULR ) shares were 3.5% higher premarket Thursday after the developer of thermal management technologies said it acquired 217.18 Bitcoins for $21 million at an average price of $96,556.53 per BTC.

The purchase marks the first step in the company's Bitcoin Treasury strategy, announced on December 4, which allocates up to 90% of its surplus cash to Bitcoin, KULR ( KULR ) said.