CandleFocus Canadian Public Company Adopts MicroStrategy's Playbook
2024-11-01
Author: Content Editor
Canadian company Kontrol Technologies has announced that it has added Bitcoin to its balance sheet, purchasing $1 million worth of the cryptocurrency. The company plans to continue buying Bitcoin in the future using its cash flows and treasury assets. Kontrol Technologies CEO, Paul Ghezzi, stated that the growing institutional adoption of Bitcoin has prompted the decision. Although this may raise concerns due to the company's focus on sustainable energy, Ghezzi argues that Bitcoin mining is becoming greener with the use of renewable energy sources. In addition to investing in Bitcoin, Kontrol Technologies is also exploring potential partnerships in the mining sector to utilize surplus energy for building infrastructure.
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