KULR pays off Coinbase-backed debt with bitcoin sales
KULR Technology Group repaid its $20 million Coinbase credit facility after selling bitcoin, keeping crypto at the center of its treasury strategy.
- KULR Technology Group repaid its $20 million Coinbase credit facility after selling about 333 bitcoin.
- The company said about 565 pledged bitcoin should be released back to KULR after the loan payoff.
- KULR still held roughly 760 bitcoin, keeping crypto central to its treasury strategy.
KULR Technology Group (NYSE American: KULR) has sold about 333 bitcoin between July 9 and July 23 to repay its $20 million credit facility with Coinbase Credit, Inc. (NASDAQ: COIN). The sales brought in roughly $21.5 million in gross proceeds, and the company said the loan is now fully repaid with no principal balance left.
How the bitcoin-backed financing was set up
The credit line had originally been secured in July 2025 as KULR’s first bitcoin-backed financing arrangement. At the time, KULR said the facility would support its bitcoin accumulation strategy, showing that the company was using its crypto holdings as both a treasury asset and a funding source. The company said the remaining net proceeds from the sale will be used for general corporate purposes.
What changes after the loan is repaid
Because the facility has been repaid, 565 bitcoin that had been pledged as collateral are expected to be released back to KULR. The company also said accrued interest is expected to be paid in August 2026. As of July 23, 2026, KULR said it still held about 760 bitcoin, which means crypto remains central to its treasury strategy.
What the move could mean for investors
For investors, the update shows that KULR is actively using bitcoin as part of its financing and liquidity plan. That can provide flexibility, but it also keeps the company closely tied to bitcoin price swings. The main issue ahead is whether this strategy can help build value without creating too much volatility in the business.
