PALM BEACH, Fla., Jan. 21, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The usage of cryptocurrencies and their sources of mining are both growing exponentially around the globe and are projected to continue in the coming years. According to a report from ResearchAndMarkets, describing the growing crypto outlook said: “The cryptocurrency market is forecasted to grow by USD 39.74 billion during 2024-2029, accelerating at a CAGR of 16.7% during the forecast period.” Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is acceptance of cryptocurrency by retailers. One of the major drivers for this market is the rising investment in digital assets.” Another report from Precedence Research that focused on mining said: “The global cryptocurrency mining market size is calculated at USD 2.45 billion in 2024, grew to USD 2.77 billion in 2025 and is predicted to surpass around USD 8.24 billion by 2034, expanding at a CAGR of 12.90% between 2024 and 2034. Bitcoin and numerous other cryptocurrencies service the mining progression to produce a new exchange and validate fresh transactions. Bitcoin operates on a distributed network or decentralized computer network that keeps track of cryptocurrency. New bitcoins are generated or mined when machines on the system authenticate and process the transaction. The transaction is processed by these computer networks, or miners, in return for a Bitcoin reward.” Active companies in news today include: KULR Technology Group, Inc. (NYSE: KULR), MicroStrategy® Incorporated (NASDAQ: MSTR), Rumble (NASDAQ: RUM), MARA Holdings, Inc. (NASDAQ: MARA), Riot Platforms, Inc. (NASDAQ: RIOT).
Precedence Research continued saying: “Based on geography, North America generated the largest portion of the worldwide market… Bitcoin has gained a lot of market traction as a virtual currency and based on end-user, the trading segment was taken the biggest market share. Growing bitcoin usage to experience exploding demand in the crypto market along with growing capital investment, increased visibility, and favorable rules are all contributing to the industry’s expansion. The market worth of digital cash is also rising as a result of mature bitcoin dollar amount and the ability to pay rewards for transactions. People’s propensity for digital money is evident in developing nations like the U.S., Japan, Europe, and many others. This trend is anticipated to support the development of the cryptocurrency industry in the next few years.”
KULR Technology Group, Inc. (NYSE American: KULR) Expands Bitcoin Holdings to 510 BTC, Reports 127% BTC Yield – KULR Technology Group, Inc. (the “Company” or “KULR”) ($KULR), a leader in advanced energy management platforms, today announced it has increased its bitcoin purchases for its Bitcoin Treasury by an additional $8 million to reach a total of $50 million in bitcoin acquisitions. The additional purchases were made at a weighted average price of $101,695 per bitcoin, inclusive of fees and expenses. The Company now holds 510 BTC.
This strategic move aligns with KULR’s Bitcoin Treasury Strategy announced on December 4, 2024, wherein the Company committed up to 90% of its surplus cash reserves to be held in bitcoin.
BTC Yield as a Key Performance Indicator – Year to date, KULR has achieved a BTC Yield of 127%, leveraging a combination of surplus cash and its At-The-Market (ATM) equity program to fund purchases.
KULR uses “BTC Yield” as a key performance indicator (KPI) for its Bitcoin Treasury strategy. BTC Yield is calculated as the percentage change period-to-period in the ratio of the Company’s bitcoin holdings to its Assumed Fully Diluted Shares Outstanding. This KPI helps assess the effectiveness of KULR’s bitcoin acquisition strategy in a manner KULR believes drives shareholder value.
Important Considerations Regarding BTC Yield – BTC Yield is intended to provide insights into KULR’s bitcoin acquisition strategy but should not be interpreted as a measure of operating performance, financial return, or liquidity. It is not equivalent to traditional yield metrics, nor does it account for the Company’s liabilities or broader financial position.
The trading price of KULR’s common stock is influenced by multiple factors beyond bitcoin holdings, and BTC Yield does not predict or reflect the stock’s market value. Investors should consider this metric as a supplementary tool and refer to the Company’s financial statements and SEC filings for additional information about the Company’s financial position. KULR remains committed to its strategic goals of advancing shareholder value while adhering to disciplined financial management. CONTINUED… Read this entire press release and more news for KULR at: https://www.financialnewsmedia.com/news-kulr/
In other developments in the markets of note:
MicroStrategy® Incorporated (NASDAQ: MSTR), a pioneer in AI-powered business intelligence, recently announced the MicroStrategy Sovereign European Cloud, created in partnership with STACKIT, Schwarz Digits’ cloud and co-location provider. Now the most highly regulated European businesses can leverage the full power of MicroStrategy’s cloud-native AI/BI solution, MicroStrategy ONE®, to facilitate data-driven decision-making throughout their organizations, while ensuring compliance with local data sovereignty requirements.
STACKIT provides the highest level of EU security standards, while also complying with EU legal and GDPR requirements. The operations, technical and data processing infrastructure for MicroStrategy ONE on STACKIT are located in the EU, and customer data is hosted exclusively in Germany and Austria. STACKIT holds a wide array of international security certifications including ISO 27001, C5, ISAE 3000 (SOC 2) and ISAE 3402.
Rumble (NASDAQ: RUM), recently announced that it has entered a cloud services agreement with the Government of El Salvador. The deal represents the increasing migration of the world toward companies that align more with the values of freedom that Rumble represents. Rumble’s services to El Salvador will include cloud storage (object and block storage), cloud computing, databases, load balancers, and Kubernetes integration.
“This agreement marks a major milestone for Rumble, as it is clear that our infrastructure, capabilities, and dependability are suitable for governments to trust for their most important data and computing needs,” said Rumble Chairman and Chief Executive Officer Chris Pavlovski. “This is also just more proof that the world recognizes the importance of independence from Big Tech, as no one wants to risk being technologically silenced because an activist in Silicon Valley doesn’t like what you think or say. People and governments are now more and more aligned with the values of freedom and independence we maintain and protect at Rumble.”
“El Salvador stands for freedom, innovation, and prosperity, and we are always looking at new frontiers. Like El Salvador, Rumble has also embraced and defended these ideals. It is natural for us to partner with them and we look forward to a long and mutually beneficial relationship,” said Stacy Herbert, Director of the National Bitcoin Office of the Office of the President of the Republic of El Salvador.
MARA Holdings, Inc. (NASDAQ: MARA), a global leader in leveraging digital asset compute to support the energy transformation, recently published unaudited BTC production and miner installation updates for December 2024.
Management Commentary – “In December, we surpassed our year-end hash rate target of 50 EH/s while improving our fleet efficiency to 20 J/TH,” said Fred Thiel, MARA’s chairman and CEO. “We mined 249 blocks, the second most blocks in a month on record.
“Our energized hash rate increased to 53.2 EH/s, a 15% improvement over November, while BTC production declined 2% to 890 BTC, primarily due to a slight decrease in luck. While some of our bitcoin and hash rate was acquired outside of our own pool, MARAPool achieved an impressive annual hash rate growth of 168% in 2024, exceeding bitcoin’s network growth rate of 49%. These results underscore the substantial progress we’ve achieved in expanding our operations and enhancing performance, further solidifying our leadership within the industry.”
Riot Platforms, Inc. (NASDAQ: RIOT) recently announced that it completed its previously announced offering of its 0.75% convertible senior notes due 2030 (the “2030 Notes“). The aggregate principal amount of the 2030 Notes sold in the offering was $594.4 million, which included $69.4 million aggregate principal amount of the 2030 Notes relating to the partial exercise of the initial purchasers’ option. The 2030 Notes were sold in a private offering only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act“).
The net proceeds from the issuance of the 2030 Notes were approximately $579.2 million, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by Riot. Riot is pleased to announce that it has already deployed substantially all of the net proceeds from the offering to acquire additional Bitcoin.
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