Both companies made headlines last month when they announced they would purchase large amounts of BTC
Worksport Ltd. (NASDAQ: WKSP) and KULR Technology Group (NYSE: KULR), have posted an announcement that they are joining forces to push the boundaries of battery technology. This partnership is aimed at redefining portable energy storage, focusing on innovative solutions that integrate artificial intelligence (AI) and advanced thermal management for enhanced safety and efficiency, both companies said in a press release. With an increasing emphasis on domestic manufacturing, this collaboration aligns with the broader push to strengthen the U.S.-based production capabilities.
Through their joint efforts, KULR and Worksport will work on optimizing battery performance, improving safety mechanisms, and leveraging AI for predictive maintenance. The partnership also comes at a time when demand for American-made energy solutions is rising, making their move a timely and strategic one.
One of the key projects is the enhancement of Worksport’s COR Battery Pack System, which will be optimized through improved battery management system (BMS) requirements, refined cell configurations, and performance enhancements. The new partners want to create a system that is not only more efficient but also highly reliable and safe.
A critical aspect of this collaboration is the focus on thermal runaway protection. Battery safety remains a significant concern in the industry, as overheating and failures can lead to dangerous situations. KULR’s patented thermal runaway mitigation technology will be incorporated into Worksport’s battery systems, ensuring improved safety measures and longevity.
Beyond hardware improvements, the companies are also taking a forward-thinking approach by integrating AI-driven software into the battery management system. This AI-powered BMS will enable real-time monitoring, predictive analytics, and proactive maintenance, optimizing power distribution while extending battery life. With AI-enhanced analytics, users will gain better insights into their battery performance, reducing potential failures and maximizing efficiency.
In addition to battery innovation, KULR and Worksport are exploring opportunities to expand domestic manufacturing. The push for U.S.-based production has been reinforced by economic policies and market trends favoring American-made energy solutions. By shifting their focus to local production facilities, both companies are strategically positioning themselves to meet the rising demand for domestically manufactured battery technology.
Last December, Worksport announced a significant shift in its corporate treasury strategy by adopting Bitcoin (BTC) and Ripple (XRP) as part of its financial assets. This decision was approved by the company’s Board of Directors and involved an initial agreement to purchase up to $5 million worth of BTC and XRP. The company committed to allocating up to 10% of its excess operational cash to these cryptocurrencies.
Steven Rossi, CEO of Worksport, emphasized that this move was aimed at hedging against inflation and enhancing transaction efficiency. The company also planned to integrate cryptocurrency payments on its e-commerce platform, allowing customers to benefit from lower transaction fees and a broader range of payment options2.
Worksport’s strategy included converting interest earnings from cash held in money market accounts into BTC and XRP, and potentially allocating a portion of funds raised in future capital initiatives to these digital assets. This proactive approach was part of the company’s broader vision to leverage blockchain and digital assets to improve operational efficiency and align with global financial trends
Also in December, KULR Technology Group announced a bold new strategy to bolster its financial reserves by investing in Bitcoin (BTC). The company revealed its plan to allocate up to 90% of its surplus cash reserves to Bitcoin, marking a significant shift in its treasury management approach. This decision was driven by the company’s desire to hedge against inflation and enhance shareholder value through strategic investments in digital assets2.
KULR’s initial purchase, made on December 26, 2024, involved acquiring 217.18 BTC for approximately $21 million, at an average price of $96,556.53 per BTC. This move was well-received by investors, as it demonstrated the company’s commitment to leveraging Bitcoin’s potential for long-term growth1. Following this initial purchase, KULR continued to expand its Bitcoin holdings, adding another $21 million worth of BTC in early January 2025.
By February 2025, KULR had increased its Bitcoin holdings to 610.3 BTC, valued at over $59 million. The strategy was aimed at providing a robust financial foundation and aligning with global financial trends.
