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Jasmine Technology's stock more than tripled after the business revealed in July that it will begin mining cryptocurrency, according to the news agency. The company has only mined eight bitcoins on 325 mining equipment since then, but that hasn't stopped its stock prices from rising.
"The positive investor reaction has beyond our expectations," Soraj Asavaprapha, chairman of Jasmine Technology, told Bloomberg. "We are seeing bullish enthusiasm towards our new direction, despite the fact that we are only at the beginning of this trip."
Next year, the company plans to invest another 3.3 billion baht ($98 million) in cryptocurrency mining, with roughly 7,000 mining equipment on the way. Mining is expected to account for up to 80% of the company's overall revenue by the end of the year, according to the corporation.
source: bloomberg.com
"The positive investor reaction has beyond our expectations," Soraj Asavaprapha, chairman of Jasmine Technology, told Bloomberg. "We are seeing bullish enthusiasm towards our new direction, despite the fact that we are only at the beginning of this trip."
Next year, the company plans to invest another 3.3 billion baht ($98 million) in cryptocurrency mining, with roughly 7,000 mining equipment on the way. Mining is expected to account for up to 80% of the company's overall revenue by the end of the year, according to the corporation.
source: bloomberg.com
