KULR Technology Group (NYSE American: KULR) has sold its remaining 764 bitcoin for approximately $58.6 million, bringing its cryptocurrency holdings to zero and completing its retreat from a corporate Bitcoin treasury strategy.

According to a regulatory filing, the company sold the bitcoin between Aug. 20 and Sept. 11, 2026, through open-market transactions at a weighted average price of about $76,633 per coin. KULR did not disclose the coins' cost basis, nor did it say whether the sales resulted in a realized gain or loss.

The disposal follows an earlier sale of about 333 BTC after June 30, 2026, which 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, unwinding the crypto-related activities it had assembled alongside its core energy business.

KULR described the latest sales as part of its treasury management operations but did not specify how the $58.6 million in proceeds will be deployed, leaving the use of funds an open item that readers can track through future company disclosures.

The move marks a sharp reversal from the Bitcoin accumulation strategy KULR had pursued since announcing the initiative in late 2024, when the company began adding bitcoin to its balance sheet alongside its energy operations. The strategy had made KULR one of a number of publicly listed companies to hold bitcoin directly on its books. That approach gained prominence after Strategy, then known as MicroStrategy, began large-scale bitcoin purchases in 2020, and corporate treasury strategies are typically framed as a way to give equity holders indirect exposure to the asset.

The Bigger Shift

KULR's exit highlights a growing divide among public companies that adopted Bitcoin treasuries. While firms such as Strategy, formerly known as MicroStrategy, 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.

KULR's full liquidation places it among a group of corporate bitcoin holders that have exited the strategy entirely in 2026, with some disposals tied to debt repayment and liquidity needs.

For companies without a strong financing premium tied to their bitcoin holdings, the strategy can become difficult to sustain when equity valuations weaken or access to 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 the asset's upside, but it can also make liquidity and financing decisions more dependent on the health of the crypto market.

KULR has not ruled out buying bitcoin again. Its latest filing, however, leaves the company with no BTC on its balance sheet, and its capital strategy is once again centered on its core energy business. How the company ultimately deploys the $58.6 million in proceeds — and whether it revisits a bitcoin position — are questions that subsequent regulatory filings may answer.