KULRTech Transfers 145.8 BTC to Coinbase Prime 5 Hours Ago, Realizes $22.62M Loss as Bitcoin Treasury Strategy Abandoned

BTC-0.44%
COIN-3.01%

According to onchain analyst EmberCN, KULRTech transferred 145.8 BTC (approximately $9.45 million) to Coinbase Prime 5 hours ago. Over the past three months, the company has reduced its Bitcoin reserves from 1,021 BTC (approximately $101 million) to just 100 BTC (approximately $6.47 million), with an average purchase price of $98,923 per BTC and an average selling price of $74,368 per BTC, resulting in a cumulative loss of $22.62 million.

The company has delisted its Bitcoin treasury page from its official website and ceased posting Bitcoin-related content on social media, signaling that KULRTech has abandoned its Bitcoin treasury strategy.

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