Kontrol Technologies Corp. (“Kontrol” or the “Company”) operates a sustainable buildings platform for customers including REITS, municipalities, property managers and industrial and commercial buildings.
Following a Board review and approval the Company has initiated the addition of Bitcoin or Bitcoin related proxies to its Balance Sheet with an initial investment of $1 Million. The Company is also working towards a continuous purchase plan which may include re-investment of future cash flows and/or treasury assets. Further information will be provided when that plan is established.
“With institutional adoption accelerating we believe now is an opportune time to initiate and develop our long-term bitcoin strategy,” says Paul Ghezzi, CEO of Kontrol. “Bitcoin is now being mined with growing sustainable energy solutions such as wind, solar and geothermal and we anticipate that will continue. We also see a potential to grow into that operating market and develop new solutions and partnerships.”
The Company has no long term secured debt, is generating interest income from its treasury holdings and has sufficient capital on hand to execute on its mergers and acquisitions strategy as previously disclosed in the press release dated October 29, 2024.
Additional Bitcoin Opportunities related to Sustainability
According to Forbes.com, Bitcoin may provide a positive net effect to sustainable energy… While environmentalists have pilloried the cryptocurrency in years past, new research shows that more than 50% of bitcoin’s power mix now comes from renewables. source: Forbes.com
The Company is reviewing potential opportunities to work with or partner with bitcoin mining related companies who are seeking to use excess energy generated during the bitcoin mining process to power traditional building infrastructure. The Company has not entered into any such agreements at this time and will provide a market update should it do so.
