KULR just dumped their entire $BTC treasury. Another one bites the dust.
The battery tech company is pivoting capital back to their core energy biz. This comes after they already sold ~333 $BTC post-June 2026 for $21.5M—$20M of which went straight to paying off a Coinbase loan.
Pattern emerging: Public companies that loaded up on Bitcoin are now reassessing their balance sheet strategies. When the debt comes due, the treasury gets liquidated.
Not every company is MicroStrategy. Most don't have the conviction or the cash flow to hold through volatility. KULR is proof that corporate Bitcoin adoption isn't a one-way street—it's conditional on liquidity needs and business priorities.
Watch which other treasury companies are overleveraged. They might be next.
The battery tech company is pivoting capital back to their core energy biz. This comes after they already sold ~333 $BTC post-June 2026 for $21.5M—$20M of which went straight to paying off a Coinbase loan.
Pattern emerging: Public companies that loaded up on Bitcoin are now reassessing their balance sheet strategies. When the debt comes due, the treasury gets liquidated.
Not every company is MicroStrategy. Most don't have the conviction or the cash flow to hold through volatility. KULR is proof that corporate Bitcoin adoption isn't a one-way street—it's conditional on liquidity needs and business priorities.
Watch which other treasury companies are overleveraged. They might be next.
