KULR Technology Group (KULR, Financial) has successfully deployed 3,570 Bitmain S19 XP 140T Bitcoin mining machines in Asuncion, Paraguay. This expansion has increased the company's operational capacity to 750 petahash per second (PH/s) across various mining sites. The move highlights KULR's strategy of diversifying its Bitcoin acquisition methods through both mining and market purchases. By utilizing a flexible "buy-or-mine" approach, KULR aims to efficiently grow its Bitcoin holdings without relying solely on one method of accumulation. The company plans to further enhance its mining capabilities, targeting an increased capacity of 1.25 exahash per second (EH/s) later this summer.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for KULR Technology Group Inc (KULR, Financial) is $48.00 with a high estimate of $48.00 and a low estimate of $48.00. The average target implies an upside of 601.75% from the current price of $6.84. More detailed estimate data can be found on the KULR Technology Group Inc (KULR) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, KULR Technology Group Inc's (KULR, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for KULR Technology Group Inc (KULR, Financial) in one year is $9.16, suggesting a upside of 33.92% from the current price of $6.84. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the KULR Technology Group Inc (KULR) Summary page.
KULR Key Business Developments
Release Date: May 15, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- KULR Technology Group Inc (KULR, Financial) reported a 40% increase in revenue from the same quarter last year, reaching $2.4 million.
- The company has a strong financial position with over $100 million in cash and Bitcoin holdings and virtually no debt.
- KULR has successfully expanded its facility footprint to approximately 31,000 square feet, doubling its battery production capacity.
- The company has entered into strategic BTC mining opportunities, expecting Bitcoin pricing to be higher in the future.
- KULR has been selected by the Texas Space Commission to receive a $6.7 million grant to advance next-generation space battery systems.
Negative Points
- Gross margin for the first quarter was down to 8% due to unanticipated labor hours needed to complete technical projects.
- Operating expenses increased due to higher marketing, insurance, non-cash stock-based compensation, and a one-time non-cash adjustment.
- Service revenue decreased by 8% compared to the first quarter of 2024.
- The company is facing volatility in Bitcoin holdings, with a $9.7 million non-operating non-cash expense due to mark-to-market adjustments.
- KULR is not focusing on the consumer-oriented battery market, which could limit potential revenue streams.
