The move comes as KULR continues to increase its role in Bitcoin mining. By late summer they expect to be operating at a maximum of 1.25 exahash per second (EH/s). This expansion is expected to install a new infrastructure expanding KULR’s proforma Bitcoin mining capacity to 750 petahash per second (PH/s). The company further leverages Bitcoin onto its balance sheet through their access to diversified funding and deepening of operational scale.

KULR wisely selected Paraguay for its South American expansion, an area where the go-to power source for miners is cheap hydroelectric energy. The company’s dual-pronged “buy-or-mine” strategy seeks to maximize long-term treasury value via direct BTC purchases and self-mining.

This past July 8, KULR entered into a new $20 million Bitcoin-backed credit facility with Coinbase Credit. This credit facility will provide KULR with the non-dilutive capital necessary to further grow KULR's BTC holdings.

In June, KULR subsequently announced a $300 million “at-the-market” (ATM) equity offering. To make it happen, they partnered with dealmaking giants Cantor Fitzgerald & Co. and Craig-Hallum Capital. The ATM equity offering will continue to drive KULR’s Bitcoin reserve strategy.

"We view our Bitcoin holdings as long term holdings and expect to continue to accumulate bitcoin," - KULR.

KULR's CEO, Michael Mo, highlighted the benefits of the company's approach.

"Bitcoin has outpaced every major asset class in 11 of the last 14 years, often by a significant margin," - Michael Mo, CEO of KULR.

KULR’s strategy is aimed at enriching its treasury by seizing more margin from hash price and coin price. The company's expansion and funding strategies reflect its commitment to growing its Bitcoin holdings and enhancing its financial position in the cryptocurrency market.