KULR Technology Deposits 300 BTC Into Coinbase Prime as Unrealized Losses Near $18 Million

KULR Technology moved 300 BTC (~$24.36M) into Coinbase Prime on May 13, 2026, a transfer onchain analysts flag as more consistent with a pre-sale than routine custody or collateral management. The company still holds 1,021 BTC bought at an average $98,627, leaving roughly $17.8M in unrealized losses at current prices. The deposit raises concern about potential corporate selling pressure amid a wider pullback: CryptoQuant data shows non-Strategy corporate bitcoin buying has collapsed ~99% in 2026, while Strategy-style treasuries (led by MicroStrategy) now hold about 76% of corporate bitcoin (~820,000 BTC). The move could add short-term downward pressure on BTC liquidity/prices if it precedes an offload, though collateral-management explanations remain possible.