Its actually not Kryptonite in a chemistry sense.
Quote:
The mineral cannot be called kryptonite under international nomenclature rules because it has nothing to do with krypton - a real element in the Periodic Table that takes the form of a gas.
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Basically, some writer decided that this unknown composition would suit the needs for the movie and put it under the kryptonite in the movie. The scientist looking at the sample found the match online and now they are laughing about it.
Since it bears no resemblence to Kryptonite in a chemist sort of way. That means it won't have the chemical properties that Krypton itself has. So thats why its not cold.
So really its just a new compound and some writer out there got lucky that his made up compound actually existed. Thats just awesome. Now only if we could find the real kryptonite so I can build my fortress of solitude already!