Thai tech firms jump into bitcoin mining, multiplying by 67 this year

The Thai tech firm's share price has risen 67 times this year, according to media reports, making it the world's largest tech firm with an investment market share of over $ 2 billion. .

After announcing its entry into bitcoin mining in July this year, the share price of Thai tech company Jasmine Technology Solution Pcl more than tripled, but the cryptocurrency mining market still has not. brought significant benefits to society.

Since the start of the year, the company's share price has risen 6,700%.

The surprise price increase also prompted the company's managing director, Soraj Asavaprapha, to say in an interview: “The positive response from investors has exceeded our expectations. Hope. This is only the start, but we are excited about our new business. I am optimistic, ”he said.

Since it went live in July, 325 miners deployed by Jasmine Technology Solution Pcl have mined just 8 bitcoins and have earned around $ 400,000 based on current market value. Soraj Chairman Asavaprapha Best (0.9343, -0.00, -0.11%) to mine more bitcoin next year as company plans to invest 3.3 billion baht to buy 7,000 new miners . He expects that by the end of 2022, Bitcoin's mining revenue will represent up to 80% of the company's total revenue.

Wilasinee Boonmasungsong, analyst at Bangkok-based Gloplex Securities, said, “Bitcoin is a relatively new business in Thailand, so we don't know much about the company's capital, costs and revenue. Wilasinee Boonmasungsong, analyst at Gloplex Securities, based in Bangkok. .

Since the start of this year, Thailand's SET index has increased by 12.89%.