KULR Technology Group has sold its remaining 764 bitcoin for about $58.6 million, bringing its holdings to zero and completing its retreat from a Bitcoin treasury strategy.

The company sold the bitcoin between Aug. 20 and Sept. 11 through open-market transactions at a weighted average price of about $76,633 per bitcoin, according to a regulatory filing. KULR did not disclose the coins’ cost basis or whether the sales resulted in a realized gain or loss.

The sale follows an earlier disposal of about 333 BTC after June 30 2026 that generated roughly $21.5 million. About $20 million of those proceeds was used to repay principal owed to Coinbase, according to the company.

KULR has also shut down its Bitcoin mining operation.

KULR said the latest sales were part of its treasury management operations but did not specify how the $58.6 million in proceeds will be deployed.

The move marks a sharp reversal from the corporate Bitcoin accumulation strategy that KULR had pursued as it sought to add Bitcoin to its balance sheet alongside its energy business.

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The Bigger Shift

KULR’s exit highlights a growing divide among public companies that adopted Bitcoin treasuries.

While firms such as Strategy continue to build large Bitcoin positions, smaller companies are increasingly weighing the cost of maintaining a crypto-heavy balance sheet against the need to fund operations, repay debt, and invest in their core businesses.

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For companies without a strong financing premium tied to their Bitcoin holdings, the strategy can become difficult to sustain when equity valuations weaken or capital becomes more expensive.

KULR’s decision therefore underscores a key test for the corporate Bitcoin model – owning Bitcoin can boost a company’s exposure to its upside but it can also make liquidity and financing decisions more dependent on the crypto market.

KULR has not ruled out buying Bitcoin again, but its latest filing leaves the company with no BTC and its capital strategy once again centered on its core energy business.

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