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KULR plans to raise $300 million to increase its Bitcoin holdings and has rented 5,500 Mining Rigs.
According to Jincai Finance, the listed company KULR is seeking to raise up to $300 million by issuing common stock in the market. The company currently holds 800 Bitcoins and plans to use the raised funds for general corporate purposes, including purchasing more Bitcoins. It is reported that KULR has also leased 5,500 S-19 Bitcoin Mining Rigs through two agreements, totaling over $4 million.