Kontrol Technologies Announces $2 Million Bitcoin Purchase Plan and Expanding with Data Center Customers.
Kontrol Technologies Corp. (Cboe CA:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”) operates a sustainable buildings platform for customers including REITS, municipalities, property managers and industrial and commercial buildings.
Following its announcement of a Bitcoin strategy for its balance sheet, Kontrol is adding a further $2 Million of Bitcoin or Bitcoin related proxies to its balance sheet. The Company will purchase $500K per month for four months and the purchases will be funded from holdback receivables, treasury, and future cash flows.
Data Centers
The Company currently works with three mission critical data centers operated by some of the largest Telecommunication companies in Canada. The Company provides energy management and ongoing monitoring of energy consumption. The Company is expanding its services and solutions to assist its customers manage the scaling of their respective data centers.
Paul Ghezzi, CEO of Kontrol, said:
In addition to having a strong cash position, we also have a number of hold-back receivables related to the closings of our prior business sales.
“We can grow our bitcoin strategy while maintaining a healthy cash balance for potential future acquisitions,”
“In addition, we are pleased to expand our work with our data center customers and will seek to continue to grow these business opportunities.”
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.
Kontrol Technologies Corp.
Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities and provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.
Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
READ the latest news shaping the data centre market at Data Centre Central
Kontrol Technologies Announces $2 Million Bitcoin Purchase Plan and Expanding with Data Center Customers. source
