The share price of Thailand-based technology company Jasmine Tecknology Solution broke a record after the announcement of starting bitcoin mining.
The share of Jasmine Technology Solution has more than tripled since the mining plan announced in July, but cryptocurrencies had almost no effect on this increase. According to data from Bloomberg, it is stated that the increase in shares is about 2 billion dollars. This corresponds to an increase of approximately 7000% in 2021.
In an interview with the company’s president, Soraj Asavaprapha:
Support from investors far exceeded our expectations. Although this is just the beginning, we understood that our new venture would progress positively.
said.
Jasmine Technology, which is only one of the companies dealing with cryptocurrencies in Thailand, has inspired other companies with this rise. Dealing with the supply and distribution of electronic devices AJ Advance Technology Bitcoin this month to mining announced its first investment, and Thai banks, Siam Commercial Bank and Kasikornbank crypto money from start-up companies bought shares.
Since he announced his plans The company, which bought 325 mining devices, produced only 8 bitcoins.
In plan, approx. 3.3 billion baht (134 million dollars) Stating that it will invest, Jasmine Technology said, 80% of their turnover by the end of 2022 He thinks he will gain from mining.
Wilasinee Boonmasungsong, analyst at Globlex Securities in Bangkok,
As Bitcoin mining is new in Thailand, we have little idea what the future revenues of companies will be like. Jasmine Technology company has received a good response as the country’s pioneer in this field, but there are some regulatory risks.
said.
Soraj, President of Jasmine Technology, said that the upcoming new regulations will not affect their companies, because mining can be done anywhere in the world and the produced bitcoins can be sold.