08:53 AM EDT, 07/08/2025 (MT Newswires) -- KULR Technology ( KULR ) said Tuesday that it has secured a $20 million credit facility from Coinbase Global ( COIN ) subsidiary Coinbase Credit.

The deal establishes a multi-draw loan facility totaling up to $20 million, which will be available to KULR ( KULR ) upon execution of the credit facility, the company said.

The company said it intends to use net proceeds to fund bitcoin acquisitions.

Borrowings under the credit facility will be secured by part of its bitcoin holdings, the company said.

KULR ( KULR ) shares were up 5.9% in recent premarket activity.