KULR Halts Bitcoin Accumulation, Sells BTC to Repay Debt and Wind Down Mining Operations

Woofun AI reports that KULR Technologies has effectively ended its Bitcoin accumulation strategy for 2026, with the board authorizing the liquidation of remaining treasury assets to fund core operations. This decisive move transforms BTC from a speculative reserve into a direct source of corporate liquidity, marking a stark departure from previous aggressive buying patterns.

Financial performance deteriorated sharply during the period, as the company recorded a $10.59 million non-cash fair-value loss on its Bitcoin holdings, contributing to a total net loss of $21.97 million.

Woofun AI data shows revenue contracted by 43% to $2.08 million, while the operating loss expanded by 19% to $11.2 million, underscoring the strain on the balance sheet.

To address these deficits, KULR sold approximately 333 BTC for $21.5 million after June 30, deploying roughly $20 million to fully repay its Coinbase principal and release 565 BTC from collateral status. Simultaneously, the firm dismantled its mining infrastructure by letting one agreement expire on July 30 and terminating another early in July for a $150,000 fee, which eliminated $2.1 million in future commitments. Despite production rising to 17.23 BTC from 14.22 BTC, mining revenue fell to $1.27 million from $1.37 million due to the average value of earned Bitcoin dropping from $96,225 to $73,594.

Market observers note that this restructuring highlights how corporate treasuries pivot when BTC ceases to function as an appreciating asset and instead competes with debt reduction and operating cash requirements. For KULR, the transition is now explicit: the company has removed its Bitcoin-backed leverage, closed its mining operation, and prioritized core business stability over further accumulation.