KULR Technology Increases Mining Capacity in Paraguay to 500 PH/s with Aspirations for 1.25 EH/s
KULR Technology Strengthens Position in Bitcoin Mining
On July 10, 2025, KULR Technology Group, Inc. (NYSE American: KULR), known as 'Bitcoin First' and specializing in sustainable energy consumption solutions, announced the launch of 3570 Bitmain S19 XP 140T miners at its facilities in Asunción, Paraguay. This strategic initiative allowed the company to reach a combined computational power of 500 petahashes per second (PH/s), strengthening its position in the competitive environment of cryptocurrency mining. According to a press release, KULR plans to increase the hashrate to 1.25 exahashes per second (EH/s) by the end of summer 2025, representing a 150% growth from current levels.
'Buy or Mine' Strategy for Bitcoin Reserve Growth
KULR Technology employs a flexible 'buy-or-mine' approach, combining bitcoin mining with direct purchases on exchanges. This method allows the company to optimize bitcoin accumulation, minimizing risks related to the volatility of the hashrate, cryptocurrency prices, and energy markets. KULR CEO Michael Mo noted, 'Bitcoin outperformed all major asset classes in 11 of the last 14 years, often by a wide margin. However, price cycles are unpredictable, and both the hashrate and energy markets are volatile. A two-pronged model lets us maximize margins and strengthen the robustness of our treasury.'
As of July 10, 2025, the company reported the purchase of 90 BTC for $10 million at an average price of $108,884 per coin. KULR's total bitcoin reserves reached 1021 BTC at an average cost of $98,627, placing the company 32nd among public companies by bitcoin reserves, according to BitcoinTreasuries data.
Why is Paraguay a Hub for Miners?
The choice of Paraguay for deploying mining capacities is due to its access to cheap and renewable electricity, primarily from the Itaipu hydroelectric power plant — one of the largest in the world. Since 2022, following the approval of a Senate bill on cryptocurrency mining and trade in Paraguay, the country has become attractive to industry participants. Low electricity costs and a favorable regulatory environment have made Paraguay a popular destination for companies like KULR, Hive Digital Technologies, CleanSpark, Marathon Digital Holdings, and Bitfarms. For instance, Hive Digital Technologies plans to achieve a 12.1 EH/s hashrate in Paraguay.
However, in 2024, Paraguayan authorities considered a 180-day ban on mining due to the energy grid strain caused by illegal operations. After analyzing potential economic losses, the parliament suspended the moratorium. Nevertheless, the national operator ANDE announced rate hikes, causing concern among legal miners, who are urging the government to reconsider this decision.
Energy Efficiency and Income Diversification
Deploying 3570 Bitmain S19 XP 140T miners highlights KULR's commitment to energy efficiency. These devices offer 21% higher efficiency compared to previous models, reducing energy consumption and increasing profitability. Additionally, KULR diversifies its revenue through ASIC miner leasing and consulting agreements with an unnamed American public company, providing additional financial stability.
Prospects and Risks
KULR's ambitious plans to reach 1.25 EH/s align with the global trend of increasing competition in bitcoin mining. However, despite the optimism, the company faces risks including fluctuations in electricity prices, hashrate volatility, and regulatory changes. KULR emphasizes that its strategy is focused on the long-term holding of bitcoins, without specific targets for reserve volume.
Conclusion
The launch of KULR Technology Group's 3570 miners in Paraguay and the achievement of a 750 PH/s hashrate is an important step in strengthening the company's position in the cryptocurrency mining market. The flexible 'buy-or-mine' strategy, the use of energy-efficient equipment, and the selection of Paraguay as a key region for operations demonstrate KULR's aspiration for sustainable growth and industry leadership.