KULR Mining Hits 750 PH/s With New Bitmain Mining Rigs Stationed in Paraguay
2025-07-10 07:40:45
Main Idea
KULR Technology Group Inc. has expanded its Bitcoin mining operations to 750 PH/s by deploying new Bitmain mining rigs in Paraguay and secured a $20 million credit facility with Coinbase Credit Inc.
Key Points
1. KULR deployed 3,570 Bitmain S19 XP 140 TH/s mining machines in Asunción, Paraguay, increasing its operational capacity to 750 PH/s.
2. The company finalized a $20 million credit facility with Coinbase Credit Inc., establishing a multi-draw term loan.
3. KULR emphasizes a 'buy-or-mine' strategy to build Bitcoin holdings, aiming to reach 1.25 EH/s by late summer.
4. CEO Michael Mo highlighted Bitcoin's outperformance of major asset classes in 11 of the last 14 years.
5. KULR expanded a strategic relationship with a U.S. ASIC miner leasing agreement and consulting services agreement to support mining operations and treasury management.
Description
KULR Technology Group Inc. (NYSE American: KULR) has expanded its bitcoin ( BTC) mining operations, the company announced July 9. KULR Reaches 750 PH/s Bitcoin Mining Milestone On Wednesday, KULR disclosed that it deployed 3,570 Bitmain S19 XP 140 terahash per second (TH/s) bitcoin mining machines at facilities in Asunción, Paraguay. This deployment increases KULR’s
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