Home News Cryptocurrency

Fresh Off The Block: Thai tech stock surged nearly 7,000% YTD following bitcoin mining expansion and more

Khairani Afifi Noordin
Khairani Afifi Noordin12/27/2021 1:14 PM GMT+08  • 2 min read
Fresh Off The Block: Thai tech stock surged nearly 7,000% YTD following bitcoin mining expansion and more
Jasmine Technology Solution saw its stock rally nearly 7,000% YTD following bitcoin mining expansion announcement
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Thai telecommunication systems provider Jasmine Technology Solution saw its stock rally nearly 7,000% year-to-date (YTD), triggered by an announcement it made in July that it would expand into bitcoin mining. Bloomberg reported that the stock has more than tripled since the announcement, although the cryptocurrency project has yet to generate significant earnings for the company.

Cryptocurrencies’ traceability will be crucial to fighting crime — this is one of blockchain data platform Chainalysis’s top trends for cryptocurrencies in 2022. Gurvais Grigg, the platform’s global public sector chief technology officer says if global adoption of cryptocurrency continues to evolve, cryptocurrency will soon be recognised as an invaluable tool, and not a hindrance to topple criminals.

“One of the biggest misconceptions about cryptocurrency is that it’s anonymous and untraceable. In fact, it operates on public, immutable blockchain ledgers, making it more transparent than most other forms of value transfer. This, coupled with the rapidly changing financial landscape for law enforcement and businesses and the development of digital tracking capabilities, means cryptocurrency is fast becoming a critical tool in the fight against crime,” says Grigg.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.