KULR Expertise Group, Inc., a Bitcoin-first firm centered on sustainable power options, introduced as we speak the profitable deployment of three,570 Bitmain S19 XP 140T mining machines in Asuncion, Paraguay. This new infrastructure brings KULR’s complete Bitcoin mining capability to 750 petahash per second (PH/s), with a objective of reaching 1.25 exahash per second (EH/s) by late summer time.
The enlargement is a continuation of KULR’s dual-pronged “buy-or-mine” Bitcoin accumulation technique, which goals to optimize treasury efficiency via each direct BTC purchases and self-mining.
“Bitcoin has outpaced each main asset class in 11 of the final 14 years, usually by a big margin,” mentioned Michael Mo, CEO of KULR. “The worth cycles, nonetheless, will stay unpredictable, hash price is unstable, and even power markets can shift quickly. Counting on a single method — whether or not solely mining or solely shopping for — dangers lacking worth when market dynamics shift. In distinction, a dual-pronged mannequin permits KULR to seize the better margin, whether or not from hash value, coin value, or each, all whereas strengthening our treasury resiliency.”
KULR has additionally expanded its strategic partnership with a U.S.-listed firm to help its mining ambitions. This features a new ASIC miner leasing settlement and a consulting and providers deal that gives operational steering on internet hosting suppliers, restore logistics, and integrating Bitcoin into its company treasury technique.
KULR’s selection of Paraguay for enlargement displays a broader pattern of miners shifting to areas with plentiful, low-cost hydroelectric energy. Paraguay’s Itaipú Dam — one of many world’s largest hydroelectric vegetation — gives a renewable and steady power supply, permitting KULR to cut back operational prices whereas aligning with its sustainability commitments.
The information follows a sequence of strikes by KULR to additional its Bitcoin-centric monetary positioning. On July 8, KULR secured a $20 million Bitcoin-backed credit score facility from Coinbase Credit score, offering non-dilutive capital to develop its BTC holdings. In June, the corporate entered right into a $300 million ATM fairness providing with Cantor Fitzgerald & Co. and Craig-Hallum Capital to gas its Bitcoin reserve technique.
“We view our Bitcoin holdings as long run holdings and anticipate to proceed to build up bitcoin,” KULR acknowledged in its submitting. “Now we have not set any particular goal for the quantity of Bitcoin we search to carry.”
With diversified funding entry and rising operational scale, KULR continues to develop and combine Bitcoin into its stability sheet.
