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KULR Technology (NYSE: KULR) sells bitcoin to fully repay $20M credit facility

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

KULR Technology Group, Inc. sold approximately 333 bitcoin (BTC) between July 9 and July 23, 2026 at a weighted average price of about $64,538 per BTC, generating roughly $21.5 million in gross proceeds as part of its treasury management operations.

The company used the net proceeds to fully repay borrowings under its $20.0 million credit facility with Coinbase Credit, Inc., leaving no principal outstanding and with accrued interest expected to be paid in August 2026. With repayment, 565.00 BTC pledged as collateral is expected to be released, and KULR plans to use remaining proceeds for general corporate purposes. As of July 23, 2026, it reports holding approximately 760 BTC and states that it maintains a largely debt-free balance sheet while retaining exposure to bitcoin.

Positive

  • KULR fully repaid its $20.0 million credit facility with Coinbase Credit, Inc. using bitcoin sale proceeds, eliminating the principal debt and reducing balance sheet leverage.
  • Repayment of the Credit Facility is expected to release 565.00 BTC from collateral, while the company still holds about 760 BTC, preserving bitcoin exposure without associated loan collateral risk.

Negative

  • None.

Filing Explained

At March 31, 2026, KULR reported $7,676,308 of cash and equivalents, equal to 79.4 days of the last reported quarter’s operating cash use; this is a historical liquidity reference alongside the completed bitcoin sale and debt repayment.

Sources and calculations
  • Cash and equivalents vs quarterly operating cash outflow, in days of cash use $7,676,308 / ($8,704,916 / 90) = [object Object]
Item 2.01 Completion of Acquisition or Disposition of Assets Financial
The company completed a significant acquisition or sale of business assets.
Bitcoin sold approximately 333 BTC Aggregate BTC sold between July 9 and July 23, 2026
Weighted average BTC sale price $64,538 per BTC Average price for the Bitcoin Sales in July 2026
Gross proceeds from Bitcoin Sales approximately $21.5 million Total gross proceeds from selling about 333 BTC
Credit Facility size $20.0 million Principal amount of credit facility with Coinbase Credit, Inc., now repaid
BTC pledged as collateral 565.00 BTC Bitcoin previously pledged under the Credit Facility, expected to be released
BTC holdings after transactions approximately 760 BTC Company’s BTC holdings as of July 23, 2026
Bitcoin Sales financial
"resulting in aggregate gross proceeds of approximately $21.5 million (collectively, the “Bitcoin Sales”)."
treasury management operations financial
"were effected as part of the Company’s ongoing treasury management operations."
Credit Facility financial
"its $20.0 million credit facility with Coinbase Credit, Inc. (the “Credit Facility”)."
A credit facility is a flexible loan arrangement that allows a borrower to access funds up to a set limit whenever needed, similar to a company having an overdraft option on a bank account. It matters to investors because it indicates how easily a business can secure cash when required, affecting its ability to manage expenses, invest, or respond to financial challenges.
collateral financial
"all 565.00 BTC previously pledged as collateral thereunder is expected to be released"
Collateral is an asset a borrower pledges to a lender as security for a loan; if the borrower fails to repay, the lender can take the asset to recover losses. For investors, collateral matters because it reduces lender risk, influences interest rates and loan terms, and determines who gets paid first if a company faces financial trouble—think of it like a pawned item that gives the lender extra protection.
forward-looking statements financial
"contains “forward-looking” statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What bitcoin sales did KULR (KULR) complete in July 2026?
KULR sold approximately 333 BTC between July 9 and July 23, 2026 through open market transactions at a weighted average price of about $64,538 per BTC, generating roughly $21.5 million in gross proceeds.

How did KULR (KULR) use the proceeds from its bitcoin sales?
KULR applied the net proceeds from the Bitcoin Sales to fully repay outstanding borrowings under its $20.0 million credit facility with Coinbase Credit, Inc., and plans to use any remaining net proceeds for general corporate purposes.

What is KULR’s (KULR) bitcoin holding position after these transactions?
As of July 23, 2026, KULR reports holding approximately 760 BTC. In addition, 565.00 BTC previously pledged as collateral under the repaid credit facility is expected to be released back to the company.

What is the status of KULR’s (KULR) credit facility with Coinbase?
Following repayment using bitcoin sale proceeds, KULR states that no principal amount remains outstanding under its $20.0 million credit facility with Coinbase Credit, Inc. Accrued and unpaid interest is expected to be paid in August 2026.

Why did KULR (KULR) decide to sell bitcoin and repay its credit facility?
KULR states it deliberately sold enough BTC to fully repay the Credit Facility to strengthen its balance sheet during market volatility, reduce interest expense, remove collateral and liquidation risk, and increase financial flexibility while keeping bitcoin exposure.

How does KULR (KULR) describe its balance sheet after repaying the loan?
KULR reports that, as of July 23, 2026, it holds about 760 BTC and maintains a largely debt-free balance sheet, reflecting its emphasis on capital allocation and risk management under its newly appointed Board and Chief Financial Officer.
false 0001662684 0001662684 2026-07-20 2026-07-20 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

Form 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 20, 2026

 

KULR TECHNOLOGY GROUP, INC.

(Exact name of the registrant as specified in its charter)

 

Delaware   001-40454   81-1004273
(State or other jurisdiction of
incorporation)		   (Commission
File Number)		   (IRS Employer
Identification No.)

 

555 Forge River Road, Suite 100, Webster, Texas 77598
(Address of principal executive offices) (Zip code)

 

Registrant’s telephone number, including area code: (408) 663-5247

 

N/A

(Former name or address if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
¨ Soliciting material pursuant to Rule 14A-12 under the Exchange Act (17 CFR 240.14a-12)
   
¨ Pre-commencement communications pursuant to Rule 14D-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class:   Trading Symbol(s)   Name of each exchange on which registered:
Common Stock   KULR   NYSE American LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

  

 

 

 

Item 2.01 Completion of Acquisition or Disposition of Assets

 

During the period from July 9, 2026 through July 23, 2026, KULR Technology Group, Inc. (“KULR” or the “Company”) sold an aggregate of approximately 333 bitcoin (“BTC”) through a series of open market transactions to unrelated purchasers at a weighted average sales price of approximately $64,538 per BTC, resulting in aggregate gross proceeds of approximately $21.5 million (collectively, the “Bitcoin Sales”). The Bitcoin Sales were completed on July 23, 2026 and were effected as part of the Company’s ongoing treasury management operations.

 

The Company applied the net proceeds of the Bitcoin Sales to repay outstanding borrowings under its $20.0 million credit facility with Coinbase Credit, Inc. (the “Credit Facility”). Following such repayments, no principal amount remains outstanding under the Credit Facility. Accrued and unpaid interest under the Credit Facility will be calculated as of month-end and is expected to be paid in August 2026. In connection with the repayment of the Credit Facility in full, all 565.00 BTC previously pledged as collateral thereunder is expected to be released to the Company. The Company intends to use the remaining net proceeds of the Bitcoin Sales for general corporate purposes.

 

The Company’s decision to sell enough BTC to fully repay the Credit Facility was a deliberate and proactive step to strengthen the Company’s balance sheet during a period of heightened market volatility. By repaying the debt, the Company aimed to reduce interest expense, remove collateral and liquidation risk, and increase its financial flexibility while retaining meaningful exposure to BTC’s potential upside through its continued BTC holdings. The move reflects the Company’s disciplined approach to capital allocation and risk management under its newly appointed Board and Chief Financial Officer, prioritizing stockholder value and strengthening the Company’s financial foundation as it continues scaling its core battery technology business. The Company currently holds approximately 760 BTC as of July 23, 2026 and maintains a largely debt-free balance sheet.

 

Forward Looking Statements

 

This Current Report on Form 8-K contains “forward-looking” statements. Such statements can be identified by, among other things, the use of forward-looking language such as the words “believe,” “goal,” “may,” “will,” “intend,” “expect,” “anticipate,” “estimate,” “project,” “would,” “could” or words with similar meaning or the negatives of these terms or by the discussion of strategy or intentions. The forward-looking statements in this Current Report on Form 8-K include express or implied statements regarding the Credit Facility and the Company’s capital allocation and risk management strategies. Such forward-looking statements are subject to a number of risks and uncertainties that could cause KULR’s actual results to differ materially from those discussed here, such as risks inherent with manufacturing and commercializing battery products, along with those other risk factors detailed in KULR’s filings with the Securities and Exchange Commission. These forward-looking statements may involve assumptions, estimates, and uncertainties that reflect current internal projections, expectations or beliefs. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements contained in this Current Report on Form 8-K are qualified in their entirety by these cautionary statements and the risk factors referenced above. Furthermore, all such statements are made as of the date of this Current Report on Form 8-K, and KULR assumes no obligation to update or revise these statements, unless otherwise required by law.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf of the undersigned hereunto duly authorized.

 

  KULR TECHNOLOGY GROUP, INC.
   
Date: July 24, 2026 By: /s/ Michael Mo
    Michael Mo
    Chief Executive Officer

 

 

Source: View Original Filing on SEC EDGAR

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