KULR Technology Group, Inc. has deployed 3,570 Bitmain S19 XP 140T mining machines in Asuncion, Paraguay, boosting its total Bitcoin mining capacity to 750 petahash per second with plans to reach 1.25 exahash per second. This deployment aligns with KULR's dual-pronged 'buy-or-mine' strategy. The company has expanded its partnership with a U.S.-listed company for enhanced support in mining operations and has chosen Paraguay for its low-cost hydroelectric power to reduce operational costs and fulfill sustainability goals.
KULR Technology Group, Inc. successfully deployed 3,570 Bitmain S19 XP 140T mining machines in Asuncion, Paraguay, increasing its Bitcoin mining capacity to 750 petahash per second.
The expansion continues KULR's dual-pronged 'buy-or-mine' strategy aimed at optimizing treasury performance through direct BTC purchases and self-mining.
Michael Mo, CEO of KULR, stated that a dual-pronged model allows capturing greater margin from hash price and coin price, enhancing treasury resiliency.
KULR's expansion in Paraguay is part of a broader trend of miners leveraging low-cost hydroelectric power for sustainable energy solutions.
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