Forex Analysis & Reviews: 27.12.2021 - Thailand shows that shares...

27.12.2021 06:14 PM

Thailand shows that shares of tech companies associated with bitcoin are still a great tool

The global rally in the shares of another Thai technology company, after it introduced the expansion of bitcoin mining, surprised even the management of the company. The Thai crypto market is booming.

Thailand shows that shares of tech companies associated with bitcoin are still a great tool

Shares of Jasmine Technology Solution Pcl have more than tripled since the IPO was announced at the end of July. And this is although the cryptocurrency project itself has not yet brought the company significant revenues. According to data compiled by Bloomberg, from the beginning of the year to the present, the share has grown by almost 7000%, primarily among global technology companies with a market value of at least $ 2 billion.

"The active response from investors has exceeded our expectations," said Soraj Asavaprapha, chairman of the company, in an interview. "There is optimism about our new direction, although this is only the beginning."

Jasmine Technology is just one of many Thai firms that are deployed in the digital asset market, diversifying risks. So, the manufacturer of household appliances AJ Advance Technology Pcl this month announced its first investment in bitcoin mining. Siam Commercial Bank Pcl and Kasikornbank Pcl also took part in cryptocurrency startups.

Enthusiasm for crypto products, especially among young investors, has led to the fact that trading on exchanges with local licenses has reached several new record highs, prompting regulators to plan the introduction of stricter rules of the game. The turnover of seven locally licensed crypto exchanges rose to 221 billion baht ($6.58 billion) in November from 18 billion baht a year earlier, according to the Securities and Exchange Commission. Therefore, last month, the Bank of Thailand announced the release of new regulatory laws in this area regulating digital assets - to protect the financial system and investors.

Jasmine Technology has generated just eight bitcoins on its 325 mining machines since operations began a few months ago. Soraj expects next year to be much more active as he plans to invest about 3.3 billion baht ($98 million) in 7,000 new devices. According to him, by the end of 2022, revenue from mining will amount to about 80% of the total turnover of the company.

"We still have a weak idea of the company's core performance, its estimates, and revenue forecasts because bitcoin mining is new to Thailand," said Wilasinee Boonmasungsong, an analyst at Globlex Securities Co. in Bangkok. "Investors have hailed him as a trailblazer in the country, but there is some regulatory risk."

According to Soraj, local regulations will not affect Jasmine Technology, since the company can sell digital tokens worldwide, and the mining business will be profitable as long as the price of the world's largest cryptocurrency exceeds $ 30,000. Bitcoin was recently trading at about $51,000.

Jasmine Technology's net profit for the first nine months increased by 436% compared to last year to 150 million baht due primarily to an increase in revenues from its traditional telecommunications-related businesses. The stock, which hit an all-time high earlier this month, is trading at nearly 500 times its subsequent 12-month earnings. Nevertheless, the company is actively introducing itself into the crypto industry, following the trend. And it seems to be paying off.

Indeed, trading shares of companies related to servicing the digital technology market is still an excellent way to reduce the volatility risks inherent in the tokens themselves and make good money, since the volume of bitcoin and altcoin mining is only growing.

你今天已经点赞上这篇文章了

*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。

If you have any content questions, please contact editorial-board@instaforex.com

Crypto-currencies

Egor Danilov,
Analytical expert of InstaForex
© 2007-2025

该作者的更多文章

电子邮件订阅

EURUSD

Euro vs US Dollar

选择时间框架

分钟

小时

天

周

开始交易

通过InstaForex赚取加密货币汇率变动的收益。

下载MetaTrader 4并开启您的第一笔交易。

推荐文章

美國加密貨幣監管法案加速推進

BTC/USD 分析。3月27日。比特幣缺乏增長潛力

3月27日加密貨幣市場交易建議

2025年3月27日，星期四，以太坊加密貨幣的日內價格走勢技術分析。

2025年3月27日，星期四，Filecoin加密貨幣的日內價格波動技術分析。

比特幣在突破90,000美元之前徘徊

3月26日加密貨幣市場交易建議

為什麼比特幣的下跌還未結束

3月25日加密貨幣市場交易建議

比特幣和以太坊顯示出復甦跡象

Top analytics