KULR mining expands to 750 petahash per second with $20M credit
KULR Technology Group Inc. has increased its bitcoin mining capacity to 750 petahash per second (PH/s) with the deployment of 3,570 Bitmain S19 XP 140 terahash per second (TH/s) mining machines in Asunción, Paraguay.
This expansion raises KULR’s total operational mining capacity across its global sites.
On July 8, KULR secured a $20 million credit facility from Coinbase Credit Inc., a subsidiary of Coinbase Global Inc.
The multi-draw term loan supports KULR’s ongoing bitcoin acquisition and mining operations.
KULR emphasises a “buy-or-mine” strategy that combines direct bitcoin purchases with self-mining to optimise treasury performance.
“Bitcoin has outpaced every major asset class in 11 of the last 14 years, often by a significant margin.” CEO Michael Mo stated.
“The price cycles, however, will remain unpredictable, hashrate is volatile, and even energy markets can shift rapidly.” he added.
Mo explained that relying solely on mining or purchasing risks missing value when market conditions change.
“In contrast, a dual-pronged model allows KULR to capture the greater margin, whether from hash price, coin price, or both, all while strengthening our treasury resiliency,” he said.
KULR is also expanding its mining machine leasing business through a strategic partnership with a US exchange-listed company.
The agreement includes ASIC miner leasing and consulting services to support mining operations and treasury management.
The company remains focused on scaling its mining footprint, aiming to reach 1.25 exahash per second (EH/s) by late summer.
This growth reflects KULR’s approach to combining operational scale with financial flexibility in the evolving bitcoin mining sector.
The credit facility provides KULR with non-dilutive capital, allowing the company to increase its bitcoin holdings without issuing additional shares or diluting existing investors.
At the time of reporting, Bitcoin price was $111,263.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hashrate orders are booming, why is "AI trading" falling out of favor? JPMorgan reveals the time lag between AI investment and productivity realization
Joseph Lupton from the JP Morgan Global Economic Research Team pointed out in a research report on November 10 that recent improvements in labor productivity have been driven more by capital deepening and increased intensity of factor utilization. The broad efficiency gains from AI, resulting from process reconstruction, data integration, and organizational adjustments, will still take time to materialize. This means orders for chips, servers, and electrical equipment may grow first, but continuous investment returns for computing power operators and end users may not arrive at the same pace.
AI investment enters the "Trough of Disillusionment", the next 18 months will be a life-or-death test!
Goldman Sachs believes that the AI investment cycle is currently in the "trough of disillusionment," but this is not the first time. The core contradiction lies in the fact that the business models of new cloud computing providers are highly dependent on end-user returns from AI spending, while currently "there are basically zero companies that can attribute profits to AI." Social Capital founder Palihapitiya has clearly defined an 18-month key window, during which the market will decide which AI business models are sustainable and which are not.
Anthropic's Core Concern: Revenue Can Be Withdrawn at Any Time, but Computing Power Costs Are Locked in for up to 20 Years
Zheshang Securities believes that Anthropic's revenue is mainly based on usage-based billing, with remaining performance obligations covering only about 5.1 months of annualized revenue, while compute power costs are already locked in with $895.4 billion in irrevocable commitments, some extending as far as 2045. Revenues can be reduced at any time, but costs are non-exitable, creating a highly asymmetric maturity gap between the two—this is the company's real core constraint.
Triple Pressure from the Federal Reserve, Treasury, and Congress; Goldman Sachs: Liquidity Crisis May Occur in 2027
Goldman Sachs warns that the reserve ratio of bank assets has dropped to around 11%, only slightly above the crisis trough of 2019. In the second half of 2027, a deadlock in debt ceiling negotiations will force the Treasury to rebuild the TGA, triggering a "perfect storm" of a sharp drop in reserves and a surge in T-bill supply; combined with stalled money market fund buying, this will create a huge liquidity black hole. The Federal Reserve could be forced into the awkward position of lowering interest rates and launching large-scale bond purchases to rescue the market.
Crypto prices
More
