Kulr Technology Group, Inc, a Bitcoin-first company focused on Sustainable Energy Solutions. today announced the successful deployment of the 3,570-bit main S19 XP 140T mining machine at Asuncion, Paraguay. This new infrastructure brings Kulr’s total Bitcoin mining capacity to 750 Petahash (ph/s) per second, with the goal of reaching 1.25 exahash (eh/s) by the end of summer.
This expansion is a continuation of KULR’s dual-aligned “buy-for-buy” Bitcoin accumulation strategy aimed at optimizing the Treasury’s performance through both direct BTC purchases and self-mining.
“Bitcoin has surpassed all major asset classes in 11 of the last 14 years, often with large margins,” said Michael Mo, CEO of Kulr. “However, price cycles are unpredictable, hashrates are volatile and even the energy market can change rapidly. It depends on a single approach – whether mining alone or buying, it lacks value when market dynamics change.
Kulr has also expanded its strategic partnership with US-listed companies to support their mining ambitions. This includes new ASIC minor lease agreements and consulting and service agreements that provide operational guidance on hosting providers, repair logistics, and integration of Bitcoin into corporate financial strategies.
Paraguay’s choice for Kulr’s expansion reflects the broader trend of moving into areas with abundant and low-cost hydropower. One of the world’s largest hydroelectric plants, Paraguay’s Itaimu provides a renewable and stable energy source, allowing KULR to reduce operational costs while aligning with sustainability commitments.
The news follows a series of moves by Kulr to promote a Bitcoin-centric financial position. On July 8, Kulr secured a $20 million Bitcoin-assisted credit facility from Coinbase Credit and provided undiluted capital to grow BTC holdings. In June, the company was Cantor Fitzgerald & Co. and signed a $300 million ATM equity offer with Craig-Hallum Capital to promote its Bitcoin Reserve Strategy.
“We consider our holdings of Bitcoin as a long-term holding and hope that we will continue to accumulate Bitcoin,” Kuru said in its submission. “We have not set a specific target for the amount of Bitcoin we are trying to hold.”
With diversified funding access and increased scale of operations, Kulr continues to grow and integrate Bitcoin into its balance sheet.
Source: https://bitcoinmagazine.com/news/kulr-expands-bitcoin-mining-operations-to-750-ph-s-targets-1-25-eh-s-by-late-summer
