KULR Technology Group, Inc. ( KULR ) saw its stock move higher on Tuesday after announcing a new $20 million credit agreement with Coinbase Credit, a lending subsidiary of Coinbase Global Inc. ( COIN ) .

The facility, structured as a multi-draw loan, gives KULR Technology ( KULR ) immediate access to capital secured by its Bitcoin (CRYPTO: BTC/USD) holdings.

The company plans to use the funds to further its Bitcoin acquisition strategy, highlighting a deepening commitment to digital assets amid its broader energy management mission.

Also Read: Coinbase Stock Is S&P 500’s Best Performer For June: How It Got There

The credit facility allows KULR Technology ( KULR ) to tap up to $20 million without diluting shareholder value. The company labeled this its first Bitcoin-backed credit agreement and emphasized the favorable terms of the deal.

According to CEO Michael Mo, the agreement offers “non-dilutive capital at a competitive financing rate,” helping KULR Technology ( KULR ) pursue long-term growth while safeguarding equity interests.

KULR Technology ( KULR ) had previously selected Coinbase’s Prime platform in 2024 for crypto custody and wallet services. That move aligned KULR Technology ( KULR ) with the majority of public companies holding Bitcoin on their balance sheets.

The funds drawn from the facility will be collateralized with a portion of KULR Technology’s current Bitcoin holdings.

The company has been steadily positioning itself as a “Bitcoin First” enterprise, blending its clean energy technology roots with blockchain-based financial strategies to broaden both reach and revenue channels.

Price Action: KULR ( KULR ) shares are trading higher by 6.89% to $6.931 at last check Tuesday.

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