Energy-management firm KULR (KULR) is looking to raise up to $300 million by selling shares of its common stock in an at-the-market (ATM) offering facilitated by Cantor Fitzgerald.

The funds will be used for general corporate purposes, including working capital and the acquisition of more bitcoin BTC, the company said in an SEC filing.

California-based KULR began using bitcoin as its primary treasury reserve asset in late 2024, adopting a strategy similar to that of Strategy (MSTR). It currently holds 800 BTC, according to BitcoinTreasuries data.

Many companies looking to build up their bitcoin treasury holdings have turned to at-the-market programs fund the purchases. These include Strategy, which also included preferred stock ATM programs, as well as The Blockchain Group, MARA Holdings and Semler Scientific.

To support its accumulation efforts, KULR also leased 5,500 S-19 bitcoin miners in two agreements totaling over $4 million, according to the filing.

So far, the company has earned nearly 10 BTC from these operations. It has purchased hundreds more on the open market through Coinbase, adding in 449.45 BTC in the three months ending on March 31, and an additional 244.36 BTC since.

KULR’s shares have gained 3.4% today to $1.22.

TON-USD climbed from $3.156 to $3.24, showing remarkable strength with a 2.66% gain during a powerful breakout supported by high trading volume, according to CoinDesk Research’s technical analysis model. The cryptocurrency found support near the $3.19-$3.20 zone, forming a potential short-term double bottom pattern that could serve as a level for continuation of the broader uptrend.

The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — is up 1.1% in the last 24 hours.

Technical Analysis

• TON-USD demonstrated remarkable strength over the 24-hour period, climbing from $3.15 to a peak of $3.24, representing a range of $0.08 (2.66%).

• The price action formed a clear uptrend with higher lows and higher highs, culminating in a powerful breakout with the highest volume of the period (5.46M).

• Key support established at $3.15-$3.16 held firmly during multiple tests, while resistance at $3.20 was decisively broken on high volume, confirming the bullish momentum.

• The subsequent consolidation near $3.20 after reaching the $3.24 high suggests profit-taking but maintains most gains, indicating potential for continued upward movement if volume support persists.

• In the last hour, TON-USD experienced significant volatility, initially continuing its upward momentum to reach a peak of $3.23, representing a 0.5% gain.

• This bullish trend reversed sharply, with price cascading down to $3.19, marking a 2.7% decline from the peak.

• The sell-off was accompanied by high volume, indicating strong distribution.

• The price found support near $3.19 and staged a modest recovery to close at $3.2, forming a potential double bottom pattern.

• This price action suggests profit-taking following the earlier breakout, with the $3.19-$3.20 zone now established as a critical support level for potential continuation of the broader uptrend.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Global markets are navigating choppy waters as delegations from both the U.S. and China are meeting in London to discuss solutions in the ongoing trade war between the two economies. As a result, SUI, the native token of the Sui blockchain, demonstrated remarkable strength with a 4.7% price increase on explosive trading volume, establishing key support at $3.24 after a V-shaped recovery pattern that suggests renewed bullish momentum. This performance comes as investors seek alternative assets amid growing concerns about traditional market stability.

Meanwhile, the CoinDesk 20 Index, which serves as a gauge for the broader crypto market, rose 0.75% over the past 24 hours. 

Technical Analysis Highlights

• SUI-USD climbed from $3.20 to $3.30, representing a 4.7% gain over the past 24 hours.
• Price action formed a clear uptrend with higher lows and higher highs.
• Volume spiked to 18.2 million during in U.S. morning hours, nearly triple the 24-hour average.
• Strong support was established at $3.24, with resistance emerging at $3.336.
• The $3.30 level now serves as a critical pivot point for further upside potential.
• The 3.316 level was established as a new support zone following the recovery.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.