A Thai telecommunications company is planning to enter the Bitcoin mining business.

Jasmine Telecom Systems, a publicly traded subsidiary of Thai telecoms company Jasmine International, is planning to install tens of thousands of Bitcoin mining devices over the next few years.


Quick facts

  • According to the Bangkok Post, JTS wants to deploy 500 mining machines in a data center in the third quarter of this year, with another 5,000 machines coming online next year.
  • According to the report, the company plans to run Southeast Asia's largest Bitcoin mining farm by 2024, with roughly 50,000 machines in operation before the second Bitcoin halving, which is due in 2024.
  • Given the low hashrate following China's crackdown on the industry, JTS believes now is an excellent moment to invest in Bitcoin mining.
  • The company's move comes as China tightens its grip on the cryptocurrency mining industry. As a result, Chinese miners are fleeing to nations where they will be more accepted.

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