KULR Expertise Group, Inc., a Bitcoin-first firm targeted on sustainable vitality options, announced today the profitable deployment of three,570 Bitmain S19 XP 140T mining machines in Asuncion, Paraguay. This new infrastructure brings KULR’s whole Bitcoin mining capability to 750 petahash per second (PH/s), with a aim 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, typically by a major margin,” stated Michael Mo, CEO of KULR. “The worth cycles, nevertheless, will stay unpredictable, hash fee is risky, and even vitality markets can shift quickly. Counting on a single strategy — 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 larger margin, whether or not from hash worth, coin worth, or each, all whereas strengthening our treasury resiliency.”
KULR has additionally expanded its strategic partnership with a U.S.-listed firm to assist its mining ambitions. This features a new ASIC miner leasing settlement and a consulting and providers deal that gives operational steerage on internet hosting suppliers, restore logistics, and integrating Bitcoin into its company treasury technique.
KULR’s selection of Paraguay for enlargement displays a broader development of miners shifting to areas with ample, low-cost hydroelectric energy. Paraguay’s Itaipú Dam — one of many world’s largest hydroelectric vegetation — gives a renewable and steady vitality 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 count on to proceed to build up bitcoin,” KULR said in its submitting. “We’ve 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.
