Two public companies, KULR Technology Group and The Smarter Web Company, disclosed the sale of a combined 511 Bitcoin one day apart, using the proceeds to retire roughly $31.7 million in debt rather than to add to their treasuries. The back-to-back disclosures mark a rare case of Bitcoin-holding firms selling to reduce leverage instead of accumulating.
Two Firms, 511 Bitcoin, and Debt on the Balance Sheet
KULR Technology Group said it sold 333 BTC from July 9 through July 23, 2026, for approximately $21.5 million in gross proceeds, according to a U.S. SEC Form 8-K filing. For related coverage, see Bitcoin Mining Power Use Rose 38%, Cambridge Data Shows.
The Smarter Web Company, a UK-listed firm, said it disposed of 177.8909127 BTC and raised net proceeds of $11,698,540, per a London Stock Exchange RNS announcement. For related coverage, see Bitcoin Policy Institute joins State Dept freedom tech.
Together the two disclosures account for 510.89 BTC, the figure that rounds to the 511 Bitcoin cited in the combined narrative. The sales were reported through formal market-disclosure channels, not leaked or informal updates.
The claim that both companies liquidated within a single 24-hour trading window is not established by the primary filings. KULR’s sale ran over roughly two weeks, and Smarter Web’s announcement carries no transaction timestamp; the two disclosures were published one day apart.
How $31.7 Million in Debt Shaped the Decision
KULR used $20 million of its proceeds to fully repay its Coinbase credit facility on July 22, 2026, which released 565 BTC of collateral back to the company.
Smarter Web directed its proceeds to an early partial redemption of its TOBAM financing, retiring that obligation ahead of schedule. The two repayments total $31,698,540, the debt figure at the center of the story.
Neither filing indicates a lender or regulator forced an immediate liquidation. Both firms framed the moves as elective debt reduction, choosing to shed Bitcoin collateral rather than raise fresh capital elsewhere.
For KULR, the mechanics were direct: repaying the Coinbase facility freed 565 BTC that had been pledged as collateral, converting a leveraged position into unencumbered holdings.
What the Sell-Off Means for Bitcoin Treasury Sentiment
The two sales run against the dominant public narrative of long-term corporate accumulation, a strategy most associated with firms like the one that recently warned Bitcoin could fall 11.4% annually in a stress scenario yet continues to build its stack.
Both sellers retained sizeable positions after paying down debt. KULR still held 760 BTC, while Smarter Web reported retaining 2,700 BTC, signaling balance-sheet cleanup rather than a full treasury exit.
At a Bitcoin spot price near $64,676, up 0.74% on the day, 511 BTC represents a modest slice of daily volume and is unlikely to move the broader market on its own.
The backdrop was cautious rather than euphoric, with the crypto Fear and Greed Index reading 26, in Fear territory. Corporate treasury moves land differently in a nervous market than in a rally.
The signal for investors is about financing structure, not price direction. Firms that took on debt against Bitcoin, as companies pursuing strategies from treasury security initiatives to Bitcoin-backed lending increasingly do, can be pushed to sell when repayment schedules tighten.
The next indicators to watch are whether either company discloses further sales, updates its remaining debt position, or revises its treasury policy in upcoming filings.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
