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KULR Bitcoin Mining Operations

KULR Technology Group operates Bitcoin mining infrastructure as a core component of their Bitcoin-Plus Treasury strategy. The mining operations serve dual purposes: generating revenue and accumulating BTC directly into the corporate treasury.

The company's mining strategy employs a "buy-or-mine" approach, dynamically choosing between purchasing Bitcoin on the open market or mining based on hash price economics. This flexible approach maximizes treasury efficiency across varying market conditions.

Current operations are centered in Paraguay, leveraging the region's competitive energy costs. With 3,570 Bitmain S19 XP 140T miners deployed, the facility contributes 750 PH/s to the network, with plans to expand to 1.25 EH/s by late summer 2025.

Mining Operations

Bitcoin Mining Infrastructure & Performance

Current Operations

Current Hashrate⚡
Operational (July 2025)
Target Hashrate
Expected Late Summer 2025
Miners Deployed
Bitmain S19 XP 140T
Primary Location
Asuncion Facility

Q3 2025 Production Results

BTC Mined (Q3)
July 11 - Sept 30, 2025
Mining Revenue
64% of Total Revenue
Avg Cost / BTC
Including Power & Lease
Gross Margin
Early-Stage Operations

Mining Economics Breakdown

Q3 Mining Revenue

$4.40M

64% of total

YTD Mining Revenue

$6.09M

9 months

Q3 Non-Mining Revenue

$2.48M

36% of total

Mining Segment Margin

5%

Q3 2025

Total Q3 Revenue

$6.88M

+116% YoY

Revenue Growth

+73%

QoQ

Note: Bitcoin mining has become KULR's largest revenue segment, representing approximately 64% of Q3 2025 total revenue. While margins are thin at 5% (reflecting early-stage operations, power costs, and equipment leases), mining serves as both a revenue source and a BTC accumulation engine for the company's Bitcoin-Plus Treasury strategy.

Upcoming Deployments

Project Sophie (Kentucky)

3.3 MW hosting partnership with Soluna Holdings

Planned Q4 2025

Renewable-powered mining operation planned for Q4 2025.

Mining Strategy

Dual "buy-or-mine" approach

Active

Maximizes treasury efficiency across market conditions by choosing between buying BTC on open market or mining based on hash price dynamics.

Mining Infrastructure Details

Paraguay Deployment

Location

Asuncion

Paraguay

Equipment

S19 XP 140T

Bitmain

Total Units

3,570

Miners

Hashrate

750 PH/s

Contribution

Deployment

July 2025

Date

Status

Operational

Active

Expansion Roadmap

Planned hashrate growth trajectory

Current Capacity
Paraguay operations
750 PH/s
Target Capacity
Late Summer 2025
1.25 EH/s
Expansion Increase
66.7% hashrate growth
+500 PH/s

Note

Mining operations data is based on official SEC 8-K filings and press releases from KULR Technology Group. Actual hashrate performance may vary based on network difficulty, equipment uptime, and energy availability.